Zurcher Kantonalbank Zurich Cantonalbank Acquires 5,852 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Key Points

• Zurcher Kantonalbank increased its stake in Bio-Rad Laboratories by 55.3%, owning a total of 16,440 shares valued at approximately $4 million.
• Bio-Rad Laboratories saw its quarterly EPS at $2.61, surpassing estimates by $0.68, with a revenue of $651.60 million.
• Institutional investors hold 65.24% of Bio-Rad's stock, indicating strong institutional interest in the company.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 55.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,440 shares of the medical research company's stock after acquiring an additional 5,852 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Bio-Rad Laboratories worth $4,004,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GeoWealth Management LLC boosted its position in shares of Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock worth $31,000 after purchasing an additional 72 shares in the last quarter. Curat Global LLC bought a new position in shares of Bio-Rad Laboratories during the 1st quarter worth about $34,000. Allworth Financial LP raised its holdings in Bio-Rad Laboratories by 260.0% during the first 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 last quarter. Headlands Technologies LLC acquired a new position in Bio-Rad Laboratories during the fourth quarter worth $71,000. Finally, Canada Pension Plan Investment Board acquired a new position in Bio-Rad Laboratories during the fourth quarter worth $131,000. 65.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BIO. Citigroup lowered 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 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. Wall Street Zen upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Saturday. Royal Bank Of Canada upped their price objective on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Wells Fargo & Company increased their target price on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a report on Friday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Bio-Rad Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $333.50.

Bio-Rad Laboratories Trading Down 1.1%

Bio-Rad Laboratories stock traded down $2.97 during mid-day trading on Tuesday, reaching $273.83. 160,397 shares of the company traded hands, compared to its average volume of 338,286. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.12 and a quick ratio of 3.67. The firm's 50 day moving average price is $242.22 and its 200 day moving average price is $259.34. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of 23.34 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, beating the consensus estimate of $1.93 by $0.68. The company had revenue of $651.60 million for the quarter, compared to the consensus estimate of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. Bio-Rad Laboratories's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.11 EPS. On average, analysts anticipate 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.