KLP Kapitalforvaltning AS Acquires Shares of 7,100 Bio-Rad Laboratories, Inc. (NYSE:BIO)

KLP Kapitalforvaltning AS bought a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,100 shares of the medical research company’s stock, valued at approximately $2,332,000.

Several other large investors also recently modified their holdings of the stock. Metis Global Partners LLC lifted its position in Bio-Rad Laboratories by 4.4% during the fourth quarter. Metis Global Partners LLC now owns 712 shares of the medical research company’s stock worth $234,000 after purchasing an additional 30 shares during the period. Signaturefd LLC raised its position in shares of Bio-Rad Laboratories by 13.2% in the 4th quarter. Signaturefd LLC now owns 265 shares of the medical research company’s stock valued at $87,000 after buying an additional 31 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Bio-Rad Laboratories by 41.6% during the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock worth $36,000 after acquiring an additional 32 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Bio-Rad Laboratories by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company’s stock worth $1,488,000 after acquiring an additional 32 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in Bio-Rad Laboratories by 3.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 900 shares of the medical research company’s stock valued at $296,000 after acquiring an additional 34 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Up 0.9 %

Shares of BIO opened at $247.65 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. Bio-Rad Laboratories, Inc. has a 52 week low of $243.76 and a 52 week high of $387.99. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of -3.81 and a beta of 0.98. The stock has a fifty day moving average of $295.53 and a 200-day moving average of $323.04.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. As a group, sell-side 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 weighed in on BIO. Royal Bank of Canada restated an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Wells Fargo & Company dropped their price objective on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Finally, StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $395.20.

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.