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

Fifth Third Bancorp decreased its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BIO. Assenagon Asset Management S.A. purchased a new stake in Bio-Rad Laboratories in the 1st quarter valued at $1,078,000. Harbor Capital Advisors Inc. boosted its stake in shares of 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 buying an additional 1,247 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of Bio-Rad Laboratories by 4.4% in the first quarter. Park Avenue Securities LLC now owns 2,391 shares of the medical research company's stock valued at $582,000 after acquiring an additional 100 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Bio-Rad Laboratories during the first quarter worth $279,000. Finally, Curat Global LLC purchased a new position in Bio-Rad Laboratories in the first quarter worth $34,000. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock traded down $1.09 during midday trading on Tuesday, reaching $230.61. The stock had a trading volume of 628,851 shares, compared to its average volume of 354,596. 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 capitalization of $6.27 billion, a PE ratio of 21.94 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99. The firm's 50-day moving average price is $236.61 and its 200 day moving average price is $280.56.

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

Analyst Ratings Changes

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