Ontario Teachers Pension Plan Board acquired a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,459 shares of the medical research company’s stock, valued at approximately $862,000.
A number of other large investors also recently modified their holdings of BIO. Norges Bank bought a new position in Bio-Rad Laboratories in the 4th quarter valued at approximately $78,177,000. Pelham Capital Ltd. bought a new position in Bio-Rad Laboratories in the 1st quarter valued at approximately $64,567,000. Pictet Asset Management Ltd. lifted its stake in Bio-Rad Laboratories by 714.2% in the 4th quarter. Pictet Asset Management Ltd. now owns 182,766 shares of the medical research company’s stock valued at $67,629,000 after purchasing an additional 160,320 shares during the last quarter. State Street Corp lifted its stake in Bio-Rad Laboratories by 31.1% in the 4th quarter. State Street Corp now owns 656,853 shares of the medical research company’s stock valued at $243,055,000 after purchasing an additional 156,001 shares during the last quarter. Finally, FMR LLC lifted its stake in Bio-Rad Laboratories by 30.3% in the 4th quarter. FMR LLC now owns 644,084 shares of the medical research company’s stock valued at $238,330,000 after purchasing an additional 149,842 shares during the last quarter. 62.78% of the stock is owned by institutional investors and hedge funds.
In other news, VP Ronald W. Hutton sold 443 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $457.35, for a total transaction of $202,606.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 27.50% of the company’s stock.
BIO stock opened at $472.45 on Friday. The company has a fifty day moving average price of $425.94 and a 200-day moving average price of $380.98. The company has a market capitalization of $13.84 billion, a P/E ratio of 9.05 and a beta of 1.06. Bio-Rad Laboratories, Inc. has a 52-week low of $281.66 and a 52-week high of $479.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.76 and a current ratio of 2.40.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Wednesday, May 6th. The medical research company reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.34. Bio-Rad Laboratories had a net margin of 67.81% and a return on equity of 3.95%. The firm had revenue of $571.60 million during the quarter, compared to the consensus estimate of $545.70 million. During the same quarter last year, the firm earned $1.65 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 7.2 earnings per share for the current fiscal year.
Several equities analysts recently commented on the stock. Citigroup increased their price objective on shares of Bio-Rad Laboratories from $480.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Barclays dropped their price target on shares of Bio-Rad Laboratories from $435.00 to $430.00 and set an “overweight” rating for the company in a research note on Thursday, March 26th. Finally, Wells Fargo & Co raised their price target on shares of Bio-Rad Laboratories from $495.00 to $525.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Bio-Rad Laboratories has an average rating of “Buy” and an average price target of $470.00.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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