Kornitzer Capital Management Inc. KS Reduces Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Kornitzer Capital Management Inc. KS lowered its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,274 shares of the medical research company's stock after selling 1,029 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.14% of Bio-Rad Laboratories worth $9,322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC lifted its position in shares of Bio-Rad Laboratories by 60.3% in the 1st quarter. Larson Financial Group LLC now owns 1,832 shares of the medical research company's stock worth $446,000 after acquiring an additional 689 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Bio-Rad Laboratories by 18.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,262 shares of the medical research company's stock valued at $1,038,000 after acquiring an additional 665 shares during the period. Louisiana State Employees Retirement System raised its holdings in Bio-Rad Laboratories by 1.9% during the first quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the medical research company's stock worth $1,315,000 after acquiring an additional 100 shares in the last quarter. New York State Common Retirement Fund raised its stake in Bio-Rad Laboratories by 9.0% in the first quarter. New York State Common Retirement Fund now owns 12,075 shares of the medical research company's stock valued at $2,941,000 after buying an additional 1,000 shares during the period. Finally, Allworth Financial LP grew its position in shares of Bio-Rad Laboratories by 260.0% in the first quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock valued at $36,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BIO. UBS Group reduced their target price 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 reduced their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company cut their price objective on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating on the stock in a report on Monday, June 9th. Citigroup cut their price objective on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has an average rating of "Moderate Buy" and an average target price of $324.25.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock traded down $3.34 during mid-day trading on Friday, hitting $246.31. The stock had a trading volume of 250,935 shares, compared to its average volume of 306,588. The firm has a market capitalization of $6.70 billion, a P/E ratio of -3.23 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a one year low of $211.43 and a one year 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. The firm's 50 day moving average is $238.30 and its 200 day moving average is $266.78.

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, beating 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 company 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 posted $2.30 earnings per share. Bio-Rad Laboratories's revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal 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.