Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 70.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,176 shares of the medical research company's stock after selling 2,825 shares during the quarter. Janney Montgomery Scott LLC's holdings in Bio-Rad Laboratories were worth $286,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. GeoWealth Management LLC raised its position in shares of Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock worth $31,000 after acquiring an additional 72 shares in the last quarter. Picton Mahoney Asset Management raised 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 worth $32,000 after acquiring an additional 35 shares in the last quarter. Curat Global LLC acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth about $34,000. Brown Brothers Harriman & Co. raised its position in shares of Bio-Rad Laboratories by 2,928.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 212 shares of the medical research company's stock worth $70,000 after acquiring an additional 205 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth about $71,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BIO shares. Citigroup cut their target price on 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. Royal Bank Of Canada cut their price target on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. UBS Group cut their price target on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company cut their price target on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Monday, June 9th. Finally, Wall Street Zen raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Bio-Rad Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $324.25.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $251.56 on Friday. The firm has a market capitalization of $6.84 billion, a P/E ratio of -3.30 and a beta of 0.95. The stock has a fifty day moving average price of $235.85 and a 200 day moving average price of $271.75. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $387.99. The company has a current ratio of 5.99, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted 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. 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 during the quarter, compared to the consensus estimate of $573.01 million. During the same quarter in the previous year, the business earned $2.30 earnings per share. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

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.

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