Victory Capital Management Inc. Boosts Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Key Points

• Victory Capital Management Inc. increased its holdings in Bio-Rad Laboratories by 33.9%, owning 29,742 shares valued at approximately $7.24 million as of the latest SEC filing.
• A number of other institutional investors also boosted their stakes in Bio-Rad, with Larson Financial Group LLC increasing their position by 60.3% during the same period.
• Bio-Rad's recent earnings report revealed EPS of $2.54, significantly surpassing analyst estimates, although its revenue was down 4.2% year over year.

Victory Capital Management Inc. increased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 33.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,742 shares of the medical research company's stock after purchasing an additional 7,525 shares during the period. Victory Capital Management Inc. owned 0.11% of Bio-Rad Laboratories worth $7,244,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in shares of Bio-Rad Laboratories by 0.5% in the first quarter. Principal Financial Group Inc. now owns 44,343 shares of the medical research company's stock valued at $10,800,000 after purchasing an additional 236 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Bio-Rad Laboratories by 14.6% in the first quarter. Crossmark Global Holdings Inc. now owns 966 shares of the medical research company's stock worth $235,000 after acquiring an additional 123 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Bio-Rad Laboratories by 1.2% during the 1st quarter. New York State Teachers Retirement System now owns 17,500 shares of the medical research company's stock worth $4,262,000 after buying an additional 200 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Bio-Rad Laboratories by 4.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 7,182 shares of the medical research company's stock worth $1,749,000 after buying an additional 315 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Bio-Rad Laboratories by 25.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,033 shares of the medical research company's stock worth $252,000 after buying an additional 209 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BIO has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating for the company in a research report on Monday, June 9th. Citigroup dropped their price objective on shares of 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. Royal Bank Of Canada dropped their price objective 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. UBS Group lowered their price target on shares of 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. Finally, Wall Street Zen lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $324.25.

Bio-Rad Laboratories Stock Up 0.7%

NYSE:BIO traded up $1.79 during mid-day trading on Tuesday, hitting $255.02. The company had a trading volume of 38,829 shares, compared to its average volume of 329,635. The business has a fifty day simple moving average of $239.15 and a 200-day simple moving average of $262.29. The company has a current ratio of 5.99, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of -3.35 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 EPS for the quarter, beating 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 company had revenue of $585.40 million for the quarter, compared to analyst estimates of $573.01 million. During the same period last year, the company posted $2.30 earnings per share. The firm's revenue was down 4.2% compared to the same quarter last year. Equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Bio-Rad Laboratories 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.