Federated Hermes Inc. Raises Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Federated Hermes Inc. increased its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,250 shares of the medical research company's stock after acquiring an additional 2,689 shares during the quarter. Federated Hermes Inc. owned approximately 0.50% of Bio-Rad Laboratories worth $34,159,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BIO. American Century Companies Inc. lifted its stake in Bio-Rad Laboratories by 6.0% in the fourth quarter. American Century Companies Inc. now owns 5,599 shares of the medical research company's stock worth $1,839,000 after acquiring an additional 315 shares during the period. LPL Financial LLC increased its holdings in shares of Bio-Rad Laboratories by 34.3% in the 4th quarter. LPL Financial LLC now owns 5,195 shares of the medical research company's stock valued at $1,707,000 after acquiring an additional 1,326 shares during the period. Prudential Financial Inc. increased its holdings in shares of Bio-Rad Laboratories by 173.3% in the 4th quarter. Prudential Financial Inc. now owns 5,968 shares of the medical research company's stock valued at $1,961,000 after acquiring an additional 3,784 shares during the period. Norges Bank purchased a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth $41,644,000. Finally, Pictet Asset Management Holding SA boosted its position in Bio-Rad Laboratories by 0.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 13,118 shares of the medical research company's stock valued at $4,309,000 after purchasing an additional 91 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup reduced 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 report on Friday, May 2nd. Wall Street Zen raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday. Royal Bank Of Canada increased their target price on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a research report on Friday. UBS Group lowered their target price on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Wells Fargo & Company upped their price target on Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a research report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Bio-Rad Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $333.50.

Bio-Rad Laboratories Stock Up 17.6%

Shares of Bio-Rad Laboratories stock traded up $42.63 during trading on Friday, reaching $284.58. The company's stock had a trading volume of 1,106,773 shares, compared to its average volume of 273,866. 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 company has a market cap of $7.74 billion, a price-to-earnings ratio of 24.26 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. The company has a 50-day simple moving average of $241.19 and a two-hundred day simple moving average of $260.97.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.68. The company had revenue of $651.60 million for the quarter, compared to the consensus estimate of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.04%. Bio-Rad Laboratories's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.11 EPS. As a group, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current 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.