Morningstar Investment Services LLC cut its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 37.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,213 shares of the medical research company's stock after selling 1,351 shares during the quarter. Morningstar Investment Services LLC's holdings in Bio-Rad Laboratories were worth $539,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of BIO. Vanguard Group Inc. increased its stake in shares of Bio-Rad Laboratories by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,919,808 shares of the medical research company's stock valued at $630,676,000 after acquiring an additional 12,168 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Bio-Rad Laboratories by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 746,119 shares of the medical research company's stock valued at $245,106,000 after purchasing an additional 91,690 shares during the last quarter. Earnest Partners LLC lifted its holdings in Bio-Rad Laboratories by 2.1% during the 4th quarter. Earnest Partners LLC now owns 618,049 shares of the medical research company's stock valued at $203,035,000 after purchasing an additional 12,500 shares during the last quarter. Ariel Investments LLC raised its stake in Bio-Rad Laboratories by 48.0% in the fourth quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company's stock valued at $184,138,000 after purchasing an additional 181,829 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Bio-Rad Laboratories by 705.9% in the fourth quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company's stock valued at $140,370,000 after acquiring an additional 374,269 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
BIO has been the subject of a number of research analyst reports. UBS Group dropped their price target on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Citigroup dropped their target price 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. Wall Street Zen cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Wells Fargo & Company dropped their target price on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating for the company in a report on Monday, June 9th. Finally, Royal Bank Of Canada decreased 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $324.25.
Check Out Our Latest Analysis on BIO
Bio-Rad Laboratories Stock Performance
Shares of BIO traded down $3.21 during trading hours on Tuesday, hitting $241.04. The company had a trading volume of 346,984 shares, compared to its average volume of 331,669. The business has a fifty day moving average of $238.30 and a 200-day moving average of $265.94. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99. 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 firm has a market cap of $6.56 billion, a price-to-earnings ratio of -3.16 and a beta of 0.95.
Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $2.54 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.81. The company had revenue of $585.40 million for the quarter, compared to analysts' expectations of $573.01 million. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. Bio-Rad Laboratories's revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.30 EPS. Equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.
Bio-Rad Laboratories Profile
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Free Report)
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.
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