Oak Thistle LLC Purchases New Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Key Points

• Oak Thistle LLC has invested $259,000 in Bio-Rad Laboratories, acquiring 1,063 shares of the medical research company.
• Vanguard Group and other institutional investors have recently increased their holdings in Bio-Rad, with Vanguard owning approximately 1.92 million shares valued at $630 million.
• Bio-Rad's last earnings report showed an EPS of $2.54, exceeding expectations, but the company's revenue declined 4.2% year-over-year.

Oak Thistle LLC acquired a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,063 shares of the medical research company's stock, valued at approximately $259,000.

Several other hedge funds have also added to or reduced their stakes in BIO. GeoWealth Management LLC raised its position in shares of Bio-Rad Laboratories by 342.9% during the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock worth $31,000 after purchasing an additional 72 shares during the period. Curat Global LLC acquired a new stake in Bio-Rad Laboratories during the 1st quarter worth approximately $34,000. Allworth Financial LP raised its holdings in Bio-Rad Laboratories by 260.0% during the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after buying an additional 104 shares during the period. Brown Brothers Harriman & Co. raised its holdings in Bio-Rad Laboratories by 2,928.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 212 shares of the medical research company's stock worth $70,000 after buying an additional 205 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $71,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Up 0.1%

BIO traded up $0.15 during trading on Tuesday, reaching $253.38. 50,781 shares of the stock were exchanged, compared to its average volume of 329,671. The stock has a market cap of $6.89 billion, a P/E ratio of -3.33 and a beta of 0.95. The stock's 50 day moving average price is $239.15 and its two-hundred day moving average price is $262.29. Bio-Rad Laboratories, Inc. has a twelve month low of $211.43 and a twelve month high of $387.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.43 and a current ratio of 5.99.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on BIO shares. Wall Street Zen lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. 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. 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 report on Friday, May 2nd. UBS Group lowered their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Royal Bank Of Canada lowered their price target on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Bio-Rad Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $324.25.

About Bio-Rad Laboratories

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.