Truist Financial Corp Boosts Stock Position in Bio-Rad Laboratories, Inc. $BIO

Truist Financial Corp raised its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 26.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,496 shares of the medical research company’s stock after purchasing an additional 2,422 shares during the quarter. Truist Financial Corp’s holdings in Bio-Rad Laboratories were worth $3,223,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. First Eagle Investment Management LLC increased its holdings in Bio-Rad Laboratories by 60.7% in the second quarter. First Eagle Investment Management LLC now owns 2,517,313 shares of the medical research company’s stock valued at $607,478,000 after buying an additional 951,123 shares in the last quarter. Norges Bank purchased a new position in Bio-Rad Laboratories in the 2nd quarter valued at approximately $30,987,000. Ilex Capital Partners UK LLP raised its holdings in Bio-Rad Laboratories by 1,790.3% during the second quarter. Ilex Capital Partners UK LLP now owns 120,885 shares of the medical research company’s stock worth $29,172,000 after purchasing an additional 114,490 shares during the last quarter. Boston Trust Walden Corp acquired a new stake in Bio-Rad Laboratories in the third quarter valued at $26,763,000. Finally, Scopia Capital Management LP purchased a new position in shares of Bio-Rad Laboratories in the second quarter valued at $22,862,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $298.99 on Friday. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $350.00. The company’s 50 day simple moving average is $309.13 and its 200 day simple moving average is $299.35. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of -12.30 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.94 and a current ratio of 5.44.

Wall Street Analyst Weigh In

BIO has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research report on Monday, December 29th. Citigroup raised their price objective on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $358.50.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.