Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 175.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,235 shares of the medical research company’s stock after buying an additional 3,973 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Bio-Rad Laboratories were worth $1,519,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BIO. Venturi Wealth Management LLC increased its stake in shares of Bio-Rad Laboratories by 2,175.0% in the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. GeoWealth Management LLC increased its stake in shares of Bio-Rad Laboratories by 342.9% in the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 72 shares in the last quarter. Picton Mahoney Asset Management increased its stake in shares of Bio-Rad Laboratories by 55.6% in the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 35 shares in the last quarter. Curat Global LLC purchased a new position in shares of Bio-Rad Laboratories in the 1st quarter valued at about $34,000. Finally, Cape Investment Advisory Inc. purchased a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

BIO stock opened at $231.68 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.99 and a quick ratio of 4.43. The business has a 50 day simple moving average of $235.93 and a 200-day simple moving average of $279.87. The firm has a market capitalization of $6.30 billion, a PE ratio of -3.04 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.81. The business had revenue of $585.40 million during the quarter, compared to analyst estimates of $573.01 million. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.30 earnings per share. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on BIO. Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, June 8th. Wells Fargo & Company cut their price objective on Bio-Rad Laboratories from $260.00 to $245.00 and set an “equal weight” rating for the company in a research note on Monday, June 9th. Citigroup cut their price objective on Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. UBS Group cut their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada cut their price objective on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.25.

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.