Bank of New York Mellon Corp Lowers Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Bank of New York Mellon Corp lowered its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 202,813 shares of the medical research company's stock after selling 64,493 shares during the period. Bank of New York Mellon Corp owned about 0.72% of Bio-Rad Laboratories worth $49,397,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of Bio-Rad Laboratories by 13.2% during the 4th quarter. Signaturefd LLC now owns 265 shares of the medical research company's stock valued at $87,000 after buying an additional 31 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Bio-Rad Laboratories by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company's stock worth $1,488,000 after acquiring an additional 32 shares during the last quarter. Picton Mahoney Asset Management increased its position in shares of Bio-Rad Laboratories by 55.6% during the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock valued at $32,000 after purchasing an additional 35 shares during the last quarter. Lecap Asset Management Ltd. increased its position in shares of Bio-Rad Laboratories by 3.1% during the 1st quarter. Lecap Asset Management Ltd. now owns 1,600 shares of the medical research company's stock valued at $390,000 after purchasing an additional 48 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Bio-Rad Laboratories by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock valued at $548,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Wall Street Analyst Weigh In

BIO has been the subject of several analyst reports. UBS Group dropped their target price 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. Royal Bank Of Canada lowered their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Citigroup reduced their price objective on 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 reduced their price objective on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating for the company in a research report on Monday, June 9th. Finally, Wall Street Zen lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Sunday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $324.25.

Bio-Rad Laboratories Stock Performance

Shares of BIO traded up $2.61 during trading hours on Thursday, hitting $249.87. The stock had a trading volume of 174,517 shares, compared to its average volume of 297,862. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.99 and a quick ratio of 4.43. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99. The firm has a market capitalization of $6.80 billion, a PE ratio of -3.28 and a beta of 0.95. The stock has a fifty day moving average price of $238.15 and a 200 day moving average price of $267.35.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.81. The company had revenue of $585.40 million for the quarter, compared to the consensus estimate of $573.01 million. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. Bio-Rad Laboratories's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.30 earnings per share. Analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Bio-Rad Laboratories Company 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.