226,523 Shares in Bio-Rad Laboratories, Inc. (NYSE:BIO) Acquired by Norges Bank

Norges Bank purchased a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 226,523 shares of the medical research company’s stock, valued at approximately $73,142,000. Norges Bank owned approximately 0.78% of Bio-Rad Laboratories at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of Bio-Rad Laboratories by 48.7% during the fourth quarter. Victory Capital Management Inc. now owns 17,671 shares of the medical research company’s stock valued at $5,706,000 after acquiring an additional 5,790 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at $1,590,000. Comerica Bank bought a new position in shares of Bio-Rad Laboratories during the third quarter valued at $11,054,000. Thompson Siegel & Walmsley LLC raised its stake in shares of Bio-Rad Laboratories by 6.3% during the third quarter. Thompson Siegel & Walmsley LLC now owns 312,583 shares of the medical research company’s stock valued at $112,046,000 after acquiring an additional 18,419 shares during the last quarter. Finally, Caxton Associates LP bought a new position in shares of Bio-Rad Laboratories during the third quarter valued at $668,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

BIO has been the subject of a number of analyst reports. Royal Bank of Canada lowered their target price on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Citigroup downgraded 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 note on Wednesday, April 3rd. Finally, UBS Group lowered their target price on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $461.00.

Insider Activity

In other news, EVP Michael Crowley sold 3,000 shares of Bio-Rad Laboratories stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,942 shares in the company, valued at $2,332,512. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Trading Down 1.0 %

NYSE:BIO opened at $287.21 on Monday. 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 has a market capitalization of $8.19 billion, a price-to-earnings ratio of -27.72 and a beta of 0.94. The firm has a fifty day simple moving average of $304.28 and a two-hundred day simple moving average of $314.28. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $431.79.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. The business had revenue of $610.82 million during the quarter, compared to analysts’ expectations of $619.09 million. Bio-Rad Laboratories had a negative net margin of 12.37% and a positive return on equity of 3.59%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the company posted $3.34 earnings per share. Analysts expect that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current fiscal 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.