Deutsche Bank AG Sells 6,644 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Key Points

• Deutsche Bank AG reduced its stake in Bio-Rad Laboratories by 17.7%, selling 6,644 shares, leaving it with a total of 30,957 shares worth approximately $7.54 million.
• Several large investors have recently increased their positions in Bio-Rad, with Bank of America Corp DE boosting its stake by 705.9% and GAMMA Investing LLC increasing it by 22,131.7%.
• Bio-Rad reported better-than-expected earnings of $2.61 per share, surpassing analyst estimates, alongside a revenue of $651.6 million for the last quarter, marking a 2.1% year-over-year increase.

Deutsche Bank AG reduced its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 17.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,957 shares of the medical research company's stock after selling 6,644 shares during the period. Deutsche Bank AG owned about 0.11% of Bio-Rad Laboratories worth $7,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GeoWealth Management LLC raised its position in Bio-Rad Laboratories by 342.9% in the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock worth $31,000 after purchasing an additional 72 shares during the period. Curat Global LLC acquired a new position in shares of Bio-Rad Laboratories in the first quarter worth about $34,000. Allworth Financial LP grew its stake in Bio-Rad Laboratories by 260.0% during the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock valued at $36,000 after acquiring an additional 104 shares in the last quarter. Skylands Capital LLC purchased a new position in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $122,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $131,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BIO shares. Wells Fargo & Company lifted their price objective on Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Citigroup dropped their target price 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. Wall Street Zen upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada upped their price target on Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, UBS Group cut their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $333.50.

Bio-Rad Laboratories Stock Performance

BIO stock traded down $1.50 during midday trading on Friday, hitting $285.71. The company's stock had a trading volume of 157,844 shares, compared to its average volume of 333,167. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99. The company has a quick ratio of 3.67, a current ratio of 5.12 and a debt-to-equity ratio of 0.17. The stock's 50-day moving average price is $251.27 and its 200 day moving average price is $254.15. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 24.36 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, beating the consensus estimate of $1.93 by $0.68. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%. The firm had revenue of $651.60 million for the quarter, compared to analyst estimates of $614.82 million. During the same period in the prior year, the company earned $3.11 EPS. The company's revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS 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.