Swiss National Bank Grows Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Swiss National Bank increased its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 38,507 shares of the medical research company’s stock after acquiring an additional 1,300 shares during the period. Swiss National Bank’s holdings in Bio-Rad Laboratories were worth $11,771,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC grew its position in Bio-Rad Laboratories by 205.9% during the 1st quarter. Quadrant Capital Group LLC now owns 104 shares of the medical research company’s stock worth $29,000 after purchasing an additional 70 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new stake in Bio-Rad Laboratories during the 1st quarter worth approximately $57,000. Enlightenment Research LLC purchased a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $70,000. Osborn Williams & Donohoe LLC purchased a new stake in shares of Bio-Rad Laboratories in the 1st quarter valued at $98,000. Finally, South Dakota Investment Council purchased a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at $116,000. 64.34% of the stock is owned by institutional investors.

Shares of BIO stock traded down $0.96 during trading hours on Wednesday, hitting $295.18. The company’s stock had a trading volume of 955 shares, compared to its average volume of 235,399. The company has a market capitalization of $8.64 billion, a P/E ratio of 50.66, a price-to-earnings-growth ratio of 2.70 and a beta of 1.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.57 and a quick ratio of 3.24. Bio-Rad Laboratories, Inc. has a 12-month low of $220.05 and a 12-month high of $345.15.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Wednesday, May 8th. The medical research company reported $1.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.53. Bio-Rad Laboratories had a net margin of 24.84% and a return on equity of 4.15%. The firm had revenue of $553.98 million for the quarter, compared to the consensus estimate of $548.82 million. As a group, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 7.15 earnings per share for the current year.

Several research firms have recently commented on BIO. ValuEngine raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Barclays upped their price objective on shares of Bio-Rad Laboratories from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Zacks Investment Research raised shares of Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $360.00 price objective on the stock in a report on Wednesday, March 6th. Finally, Deutsche Bank upped their price objective on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Bio-Rad Laboratories currently has a consensus rating of “Buy” and a consensus price target of $365.00.

In related news, EVP Timothy S. Ernst sold 345 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $290.00, for a total transaction of $100,050.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 27.84% of the company’s stock.

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About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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