Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Bought by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd lifted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 585.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,865 shares of the medical research company’s stock after buying an additional 2,447 shares during the period. UniSuper Management Pty Ltd’s holdings in Bio-Rad Laboratories were worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new stake in Bio-Rad Laboratories during the first quarter worth $38,000. Gladius Capital Management LP raised its holdings in Bio-Rad Laboratories by 65.8% in the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after buying an additional 48 shares during the period. Principal Securities Inc. acquired a new position in Bio-Rad Laboratories in the fourth quarter valued at about $41,000. GAMMA Investing LLC purchased a new position in Bio-Rad Laboratories during the fourth quarter worth about $42,000. Finally, Parallel Advisors LLC increased its position in shares of Bio-Rad Laboratories by 36.8% during the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock valued at $55,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BIO. UBS Group lowered their price objective on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a research note on Monday, June 3rd. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Monday. Finally, Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their target price for the company from $400.00 to $365.00 in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $436.67.

Bio-Rad Laboratories Price Performance

NYSE:BIO traded up $4.86 during midday trading on Thursday, reaching $314.77. The company had a trading volume of 15,703 shares, compared to its average volume of 224,859. Bio-Rad Laboratories, Inc. has a 12-month low of $261.59 and a 12-month high of $431.79. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $287.69 and its 200-day simple moving average is $307.09.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.25. Bio-Rad Laboratories had a positive return on equity of 3.59% and a negative net margin of 12.37%. The company had revenue of $610.82 million for the quarter, compared to analyst estimates of $619.09 million. During the same quarter last year, the company earned $3.34 EPS. Bio-Rad Laboratories’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $281.91, for a total value of $104,024.79. Following the sale, the executive vice president now directly owns 6,573 shares of the company’s stock, valued at approximately $1,852,994.43. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 17.06% of the stock is owned by insiders.

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.