Diversified Trust Co Purchases 4,299 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Diversified Trust Co boosted its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 259.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 5,957 shares of the medical research company’s stock after purchasing an additional 4,299 shares during the period. Diversified Trust Co’s holdings in Bio-Rad Laboratories were worth $2,060,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Sound Income Strategies LLC acquired a new stake in Bio-Rad Laboratories in the 1st quarter worth approximately $38,000. Gladius Capital Management LP increased 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 worth $39,000 after acquiring an additional 48 shares in the last quarter. Principal Securities Inc. purchased a new stake in Bio-Rad Laboratories in the 4th quarter worth $41,000. GAMMA Investing LLC purchased a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth $42,000. Finally, Parallel Advisors LLC grew its holdings in shares of Bio-Rad Laboratories by 36.8% in the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock valued at $55,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on BIO shares. UBS Group decreased their target price on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Finally, StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $436.67.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $281.91, for a total value of $104,024.79. Following the completion of the transaction, the executive vice president now directly owns 6,573 shares of the company’s stock, valued at $1,852,994.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.50% of the company’s stock.

Bio-Rad Laboratories Stock Performance

NYSE BIO traded down $2.31 during trading on Monday, reaching $270.80. 118,051 shares of the company’s stock were exchanged, compared to its average volume of 223,528. Bio-Rad Laboratories, Inc. has a fifty-two week low of $261.59 and a fifty-two week high of $431.79. The company’s fifty day simple moving average is $284.02 and its 200-day simple moving average is $310.49. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $619.09 million. During the same period in the previous year, the business posted $3.34 EPS. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts expect that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current 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.