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

Federated Hermes Inc. raised its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,250 shares of the medical research company's stock after buying an additional 2,689 shares during the quarter. Federated Hermes Inc. owned about 0.50% of Bio-Rad Laboratories worth $34,159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GeoWealth Management LLC increased its stake 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 acquiring an additional 72 shares during the last quarter. Curat Global LLC purchased a new stake in shares of Bio-Rad Laboratories during the 1st quarter valued at $34,000. Allworth Financial LP lifted its holdings in shares of Bio-Rad Laboratories by 260.0% during the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after acquiring an additional 104 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Bio-Rad Laboratories by 2,928.6% in the fourth 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 purchased a new stake in Bio-Rad Laboratories during the fourth quarter valued at about $71,000. Institutional investors own 65.24% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BIO. Wall Street Zen upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday. Citigroup lowered their target price on 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 raised their target price on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a report on Friday. 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 research note on Friday, May 2nd. Finally, Royal Bank Of Canada raised their price objective on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a report on Friday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $333.50.

Bio-Rad Laboratories Price Performance

NYSE BIO traded down $8.15 during trading hours on Monday, reaching $276.45. The company's stock had a trading volume of 230,894 shares, compared to its average volume of 337,513. 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 company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 23.57 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99. The firm's 50-day moving average price is $241.19 and its 200-day moving average price is $259.81.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly 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 firm had revenue of $651.60 million for the quarter, compared to the consensus estimate of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.11 earnings per share. On average, equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal 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.