Fifth Third Bancorp Sells 1,154 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Fifth Third Bancorp decreased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 12.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,271 shares of the medical research company's stock after selling 1,154 shares during the period. Fifth Third Bancorp's holdings in Bio-Rad Laboratories were worth $2,014,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BIO. Assenagon Asset Management S.A. bought a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $1,078,000. Harbor Capital Advisors Inc. raised its position in Bio-Rad Laboratories by 15.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 9,071 shares of the medical research company's stock worth $2,209,000 after purchasing an additional 1,247 shares during the period. Park Avenue Securities LLC raised its position in Bio-Rad Laboratories by 4.4% in the 1st quarter. Park Avenue Securities LLC now owns 2,391 shares of the medical research company's stock worth $582,000 after purchasing an additional 100 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in Bio-Rad Laboratories in the first quarter worth $279,000. Finally, Curat Global LLC purchased a new stake in Bio-Rad Laboratories during the first quarter valued at about $34,000. Institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Trading Up 0.5%

Shares of Bio-Rad Laboratories stock traded up $1.22 during trading on Thursday, reaching $231.68. 348,683 shares of the stock were exchanged, compared to its average volume of 392,770. The company has a quick ratio of 4.43, a current ratio of 5.99 and a debt-to-equity ratio of 0.18. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of -3.04 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99. The stock's fifty day moving average is $235.93 and its 200 day moving average is $279.87.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.81. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. The firm had revenue of $585.40 million for the quarter, compared to analyst estimates of $573.01 million. During the same period last year, the company earned $2.30 EPS. The business's quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BIO shares. UBS Group decreased their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Royal Bank Of Canada dropped their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Wall Street Zen cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. Wells Fargo & Company lowered 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, Citigroup dropped their price objective on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. 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 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.