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

Toronto Dominion Bank increased its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,839 shares of the medical research company’s stock after purchasing an additional 228 shares during the quarter. Toronto Dominion Bank’s holdings in Bio-Rad Laboratories were worth $4,441,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of Bio-Rad Laboratories by 48.7% in the 4th quarter. Victory Capital Management Inc. now owns 17,671 shares of the medical research company’s stock valued at $5,706,000 after purchasing an additional 5,790 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Bio-Rad Laboratories by 38.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 151,691 shares of the medical research company’s stock valued at $48,980,000 after purchasing an additional 41,937 shares during the period. Lecap Asset Management Ltd. purchased a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at approximately $1,590,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at approximately $2,609,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at approximately $7,271,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 1.3 %

Bio-Rad Laboratories stock opened at $319.42 on Friday. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of -30.83 and a beta of 0.93. The stock has a fifty day simple moving average of $288.60 and a two-hundred day simple moving average of $307.05. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $431.79. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13.

Bio-Rad Laboratories (NYSE:BIO) last posted its 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 analyst estimates of $619.09 million. Bio-Rad Laboratories had a positive return on equity of 3.59% and a negative net margin of 12.37%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.34 EPS. Equities analysts predict that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of Bio-Rad Laboratories stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total value of $104,024.79. Following the completion of the sale, the executive vice president now owns 6,573 shares of the company’s stock, valued at approximately $1,852,994.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $315.00 price objective (down previously from $440.00) on shares of Bio-Rad Laboratories in a research note on Monday, June 3rd. UBS Group lowered their price objective on 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. Finally, StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $436.67.

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.