Truist Financial Corp Boosts Stock Holdings in Bio-Rad Laboratories, Inc. $BIO

Truist Financial Corp grew its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 26.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,496 shares of the medical research company’s stock after buying an additional 2,422 shares during the quarter. Truist Financial Corp’s holdings in Bio-Rad Laboratories were worth $3,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. First Eagle Investment Management LLC boosted its holdings in Bio-Rad Laboratories by 60.7% in the second quarter. First Eagle Investment Management LLC now owns 2,517,313 shares of the medical research company’s stock valued at $607,478,000 after acquiring an additional 951,123 shares during the last quarter. Ariel Investments LLC raised its holdings in shares of Bio-Rad Laboratories by 13.0% in the 2nd quarter. Ariel Investments LLC now owns 818,624 shares of the medical research company’s stock worth $197,550,000 after purchasing an additional 93,964 shares during the period. Bank of America Corp DE lifted its stake in shares of Bio-Rad Laboratories by 5.0% in the 2nd quarter. Bank of America Corp DE now owns 452,133 shares of the medical research company’s stock valued at $109,109,000 after purchasing an additional 21,594 shares in the last quarter. First Pacific Advisors LP lifted its stake in shares of Bio-Rad Laboratories by 3.9% in the 2nd quarter. First Pacific Advisors LP now owns 386,949 shares of the medical research company’s stock valued at $93,379,000 after purchasing an additional 14,394 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Bio-Rad Laboratories by 3.6% during the 2nd quarter. Westfield Capital Management Co. LP now owns 139,505 shares of the medical research company’s stock worth $33,665,000 after purchasing an additional 4,834 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Trading Down 2.3%

NYSE BIO opened at $298.99 on Friday. The stock has a market cap of $8.07 billion, a P/E ratio of -12.30 and a beta of 1.18. The company’s fifty day simple moving average is $309.13 and its 200-day simple moving average is $299.35. The company has a current ratio of 5.44, a quick ratio of 3.94 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $350.00.

Analyst Ratings Changes

A number of research firms recently issued reports on BIO. Citigroup increased their target price on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wells Fargo & Company increased their price objective on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a report on Monday, December 29th. Finally, Wall Street Zen raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $358.50.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.