Cigna Investments Inc. New Buys Shares of 874 Bio-Rad Laboratories (BIO)

Cigna Investments Inc. New bought a new stake in shares of Bio-Rad Laboratories (NYSE:BIO) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 874 shares of the medical research company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BIO. Bank of Montreal Can lifted its position in Bio-Rad Laboratories by 12.8% in the fourth quarter. Bank of Montreal Can now owns 18,201 shares of the medical research company’s stock worth $4,343,000 after buying an additional 2,061 shares during the last quarter. Candriam Luxembourg S.C.A. bought a new stake in Bio-Rad Laboratories in the fourth quarter worth $2,029,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Bio-Rad Laboratories by 42.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,165 shares of the medical research company’s stock worth $278,000 after buying an additional 350 shares during the last quarter. Guggenheim Capital LLC lifted its position in Bio-Rad Laboratories by 28.7% in the fourth quarter. Guggenheim Capital LLC now owns 36,979 shares of the medical research company’s stock worth $8,826,000 after buying an additional 8,236 shares during the last quarter. Finally, American International Group Inc. lifted its position in Bio-Rad Laboratories by 1.7% in the fourth quarter. American International Group Inc. now owns 41,842 shares of the medical research company’s stock worth $9,986,000 after buying an additional 696 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Shares of BIO opened at $288.91 on Thursday. The company has a quick ratio of 2.99, a current ratio of 4.33 and a debt-to-equity ratio of 0.10. Bio-Rad Laboratories has a 52-week low of $208.95 and a 52-week high of $297.59. The firm has a market capitalization of $8.62 billion, a P/E ratio of 69.56, a P/E/G ratio of 3.15 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Tuesday, February 27th. The medical research company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.22. Bio-Rad Laboratories had a return on equity of 3.84% and a net margin of 34.32%. The business had revenue of $620.43 million for the quarter, compared to analyst estimates of $618.89 million. sell-side analysts anticipate that Bio-Rad Laboratories will post 6.13 earnings per share for the current fiscal year.

A number of analysts recently issued reports on BIO shares. CL King downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a research report on Friday, February 16th. Citigroup raised their price target on Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Jefferies Group raised their price target on Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Wells Fargo & Co lowered their price target on Bio-Rad Laboratories from $290.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Finally, ValuEngine upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $297.20.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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