Exchange Traded Concepts LLC Grows Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Exchange Traded Concepts LLC boosted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 175.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,235 shares of the medical research company's stock after purchasing an additional 3,973 shares during the quarter. Exchange Traded Concepts LLC's holdings in Bio-Rad Laboratories were worth $1,519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BIO. Metis Global Partners LLC boosted its position in Bio-Rad Laboratories by 4.4% during the 4th quarter. Metis Global Partners LLC now owns 712 shares of the medical research company's stock valued at $234,000 after acquiring an additional 30 shares in the last quarter. Signaturefd LLC boosted its position in Bio-Rad Laboratories by 13.2% during the 4th quarter. Signaturefd LLC now owns 265 shares of the medical research company's stock valued at $87,000 after acquiring an additional 31 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Bio-Rad Laboratories by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company's stock valued at $1,488,000 after acquiring an additional 32 shares in the last quarter. CIBC Asset Management Inc boosted its position in Bio-Rad Laboratories by 5.0% during the 4th quarter. CIBC Asset Management Inc now owns 713 shares of the medical research company's stock valued at $234,000 after acquiring an additional 34 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its position in Bio-Rad Laboratories by 55.6% during the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock valued at $32,000 after acquiring an additional 35 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Up 0.5%

Shares of BIO stock opened at $231.68 on Thursday. Bio-Rad Laboratories, Inc. has a 1-year low of $211.43 and a 1-year high of $387.99. The stock's fifty day moving average price is $235.93 and its 200 day moving average price is $279.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.99 and a quick ratio of 4.43. The company has a market cap of $6.30 billion, a price-to-earnings ratio of -3.04 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.81. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. The firm had revenue of $585.40 million for the quarter, compared to the consensus estimate of $573.01 million. During the same period in the previous year, the business earned $2.30 EPS. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. On average, research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on BIO shares. Royal Bank Of Canada dropped their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company dropped their target price on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Monday, June 9th. Wall Street Zen cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Citigroup dropped their target price on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, UBS Group dropped their target price on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $324.25.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.

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