IFM Investors Pty Ltd Makes New Investment in Bio-Rad Laboratories, Inc. (NYSE:BIO)

IFM Investors Pty Ltd bought a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,057 shares of the medical research company’s stock, valued at approximately $1,403,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC bought a new position in Bio-Rad Laboratories during the 1st quarter valued at $38,000. Gladius Capital Management LP lifted its position in shares of Bio-Rad Laboratories by 65.8% during the fourth quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock worth $39,000 after purchasing an additional 48 shares during the last quarter. Principal Securities Inc. acquired a new position in Bio-Rad Laboratories in the fourth quarter worth about $41,000. GAMMA Investing LLC bought a new stake in Bio-Rad Laboratories in the fourth quarter valued at about $42,000. Finally, ING Groep NV bought a new stake in Bio-Rad Laboratories in the third quarter valued at about $44,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BIO. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada dropped their target price on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Finally, UBS Group lifted their price target on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Bio-Rad Laboratories has an average rating of “Moderate Buy” and a consensus target price of $468.00.

Insider Transactions at Bio-Rad Laboratories

In other news, EVP Michael Crowley sold 3,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total value of $1,008,000.00. Following the completion of the transaction, the executive vice president now owns 6,942 shares of the company’s stock, valued at $2,332,512. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Stock Performance

BIO stock traded up $0.34 during mid-day trading on Friday, reaching $275.94. The company had a trading volume of 179,207 shares, compared to its average volume of 200,184. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $473.50. The stock has a market capitalization of $7.87 billion, a P/E ratio of -12.84 and a beta of 0.87. The company has a quick ratio of 4.34, a current ratio of 5.83 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $324.94 and its two-hundred day simple moving average is $316.96.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.17. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The firm had revenue of $681.18 million for the quarter, compared to the consensus estimate of $685.00 million. During the same period last year, the firm posted $3.31 EPS. Bio-Rad Laboratories’s quarterly revenue was down 6.7% compared to the same quarter last year. Research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current year.

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.