Moran Wealth Management LLC Boosts Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Moran Wealth Management LLC lifted its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,429 shares of the medical research company’s stock after acquiring an additional 80 shares during the quarter. Moran Wealth Management LLC’s holdings in Bio-Rad Laboratories were worth $798,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after purchasing an additional 87 shares during the last quarter. Gladius Capital Management LP bought a new stake in shares of Bio-Rad Laboratories in the third quarter worth $32,000. Asset Planning Inc acquired a new stake in Bio-Rad Laboratories in the fourth quarter valued at $33,000. UMB Bank n.a. boosted its stake in 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 valued at $36,000 after acquiring an additional 32 shares during the last quarter. Finally, Cape Investment Advisory Inc. acquired a new position in Bio-Rad Laboratories during the 4th quarter worth $38,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $251.17 on Wednesday. The company has a market cap of $7.04 billion, a PE ratio of -3.86 and a beta of 0.99. Bio-Rad Laboratories, Inc. has a fifty-two week low of $244.19 and a fifty-two week high of $387.99. The firm has a 50-day simple moving average of $316.63 and a 200 day simple moving average of $329.48. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18.

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%. On average, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Wall Street Analyst Weigh In

BIO has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Royal Bank of Canada restated an “outperform” rating and set a $481.00 price objective on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company decreased their target price 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.