Clearline Capital LP Sells 12,244 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Clearline Capital LP cut its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 77.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,535 shares of the medical research company's stock after selling 12,244 shares during the period. Clearline Capital LP's holdings in Bio-Rad Laboratories were worth $1,161,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in shares of Bio-Rad Laboratories by 2,175.0% during the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock worth $30,000 after buying an additional 87 shares in the last quarter. GeoWealth Management LLC boosted its stake in shares of Bio-Rad Laboratories by 342.9% during the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after purchasing an additional 72 shares in the last quarter. Picton Mahoney Asset Management grew its holdings in shares of Bio-Rad Laboratories by 55.6% during the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock worth $32,000 after purchasing an additional 35 shares during the last quarter. Asset Planning Inc acquired a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $33,000. Finally, UMB Bank n.a. raised its stake in shares of Bio-Rad Laboratories by 41.6% during the fourth 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. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Down 1.4%

BIO traded down $3.71 during trading on Tuesday, hitting $252.97. 161,923 shares of the company's stock were exchanged, compared to its average volume of 318,011. Bio-Rad Laboratories, Inc. has a fifty-two week low of $215.38 and a fifty-two week high of $387.99. The stock has a market cap of $7.09 billion, a P/E ratio of -3.89 and a beta of 1.00. The business's 50 day moving average is $244.22 and its two-hundred day moving average is $300.66. 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 - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.81. The business had revenue of $585.40 million during the quarter, compared to the consensus estimate of $573.01 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. The company's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.30 EPS. As a group, equities analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

BIO has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. StockNews.com lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Citigroup decreased their price objective on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company dropped their target price on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Finally, UBS Group decreased their price target on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Bio-Rad Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $327.40.

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.