Keystone Financial Services Buys New Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Keystone Financial Services acquired a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the fourth quarter, HoldingsChannel reports. The firm acquired 719 shares of the medical research company’s stock, valued at approximately $236,000.

A number of other hedge funds have also made changes to their positions in BIO. Van ECK Associates Corp increased its stake in Bio-Rad Laboratories by 97.8% in the third quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock valued at $436,861,000 after purchasing an additional 644,530 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Bio-Rad Laboratories by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 441,098 shares of the medical research company’s stock worth $147,583,000 after acquiring an additional 4,260 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Bio-Rad Laboratories by 3.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 252,769 shares of the medical research company’s stock valued at $84,571,000 after acquiring an additional 9,584 shares during the period. Point72 Asset Management L.P. purchased a new stake in Bio-Rad Laboratories in the 3rd quarter valued at $83,681,000. Finally, Mawer Investment Management Ltd. grew its position in Bio-Rad Laboratories by 63.0% during the 3rd quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock worth $72,900,000 after purchasing an additional 84,237 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $276.55 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. Bio-Rad Laboratories, Inc. has a one year low of $262.12 and a one year high of $387.99. The firm has a market capitalization of $7.74 billion, a P/E ratio of -10.12 and a beta of 0.90. The company’s fifty day moving average is $338.72 and its two-hundred day moving average is $336.13.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. Analysts forecast that Bio-Rad Laboratories, Inc. will post 10.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BIO. Citigroup boosted their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company reduced their target price on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bio-Rad Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $395.20.

About Bio-Rad Laboratories

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.