Morningstar Investment Services LLC Sells 1,351 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Morningstar Investment Services LLC lowered its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 37.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,213 shares of the medical research company's stock after selling 1,351 shares during the period. Morningstar Investment Services LLC's holdings in Bio-Rad Laboratories were worth $539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC increased its stake in Bio-Rad Laboratories by 13.2% during the 4th quarter. Signaturefd LLC now owns 265 shares of the medical research company's stock valued at $87,000 after purchasing an additional 31 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Bio-Rad Laboratories by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company's stock valued at $1,488,000 after purchasing an additional 32 shares in the last quarter. Lecap Asset Management Ltd. lifted its holdings in Bio-Rad Laboratories by 3.1% during the first quarter. Lecap Asset Management Ltd. now owns 1,600 shares of the medical research company's stock valued at $390,000 after purchasing an additional 48 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Bio-Rad Laboratories by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock valued at $548,000 after buying an additional 55 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Bio-Rad Laboratories by 8.0% during the fourth quarter. ProShare Advisors LLC now owns 901 shares of the medical research company's stock valued at $296,000 after buying an additional 67 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BIO. UBS Group cut their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company decreased their target price on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Monday, June 9th. Royal Bank Of Canada dropped their target price on 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. Wall Street Zen cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, Citigroup cut their price target on 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $324.25.

Bio-Rad Laboratories Trading Up 3.8%

NYSE:BIO traded up $9.43 on Wednesday, hitting $254.90. 79,918 shares of the stock were exchanged, compared to its average volume of 331,387. The stock has a market cap of $6.94 billion, a PE ratio of -3.35 and a beta of 0.95. 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 fifty day moving average of $237.98 and a 200-day moving average of $265.20. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week 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 for the quarter, beating analysts' consensus estimates of $1.73 by $0.81. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. The firm had revenue of $585.40 million during the quarter, compared to analyst estimates of $573.01 million. During the same quarter last year, the firm earned $2.30 EPS. Bio-Rad Laboratories's quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities analysts expect 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.