Janney Montgomery Scott LLC Sells 2,825 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Janney Montgomery Scott LLC cut its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 70.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,176 shares of the medical research company's stock after selling 2,825 shares during the period. Janney Montgomery Scott LLC's holdings in Bio-Rad Laboratories were worth $286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BIO. State of Michigan Retirement System lifted its stake in Bio-Rad Laboratories by 2.0% in the 4th quarter. State of Michigan Retirement System now owns 5,000 shares of the medical research company's stock valued at $1,643,000 after purchasing an additional 100 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Bio-Rad Laboratories by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 191,867 shares of the medical research company's stock valued at $63,030,000 after purchasing an additional 7,552 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Bio-Rad Laboratories by 4.3% in the 4th quarter. Victory Capital Management Inc. now owns 22,217 shares of the medical research company's stock valued at $7,299,000 after purchasing an additional 923 shares during the last quarter. Assetmark Inc. lifted its stake in Bio-Rad Laboratories by 2,493.4% in the 4th quarter. Assetmark Inc. now owns 7,910 shares of the medical research company's stock valued at $2,599,000 after purchasing an additional 7,605 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in Bio-Rad Laboratories by 10.1% in the 4th quarter. M&T Bank Corp now owns 2,179 shares of the medical research company's stock valued at $716,000 after purchasing an additional 200 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BIO. Wall Street Zen upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup cut their target price on shares of 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. Wells Fargo & Company cut their price objective 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. Royal Bank Of Canada cut their price objective on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, UBS Group cut their price objective on shares of 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $324.25.

Bio-Rad Laboratories Stock Performance

BIO stock traded up $2.21 during mid-day trading on Wednesday, hitting $252.94. 190,526 shares of the company were exchanged, compared to its average volume of 366,814. The business has a 50 day simple moving average of $236.33 and a 200-day simple moving average of $270.55. The company has a current ratio of 5.99, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $6.88 billion, a PE ratio of -3.32 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 1-year low of $211.43 and a 1-year high of $387.99.

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 (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.81. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. The firm had revenue of $585.40 million during the quarter, compared to the consensus estimate of $573.01 million. During the same period last year, the business posted $2.30 earnings per share. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

About Bio-Rad Laboratories

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.