Natixis Advisors LLC Sells 19,059 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Key Points

• Natixis Advisors LLC reduced its stake in Bio-Rad Laboratories by 41.7% in the first quarter, now holding 26,654 shares worth approximately $6.49 million.
• Wall Street analysts have upgraded Bio-Rad's rating from "hold" to "buy," with revised target prices ranging from $265 to $409.
• Bio-Rad reported better-than-expected earnings, posting $2.61 EPS for the quarter, exceeding analysts' expectations of $1.93.

Natixis Advisors LLC reduced its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 41.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,654 shares of the medical research company's stock after selling 19,059 shares during the quarter. Natixis Advisors LLC owned 0.10% of Bio-Rad Laboratories worth $6,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. GeoWealth Management LLC lifted its holdings in Bio-Rad Laboratories by 342.9% in the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after acquiring an additional 72 shares during the period. Curat Global LLC bought a new stake in Bio-Rad Laboratories during the first quarter valued at approximately $34,000. Allworth Financial LP increased its holdings in Bio-Rad Laboratories by 260.0% during the first quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock valued at $36,000 after buying an additional 104 shares during the last quarter. Skylands Capital LLC bought a new position in Bio-Rad Laboratories in the first quarter worth approximately $122,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Bio-Rad Laboratories in the fourth quarter worth about $131,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Bio-Rad Laboratories Trading Up 0.3%

Shares of NYSE:BIO traded up $0.88 during trading hours on Thursday, hitting $265.20. 201,605 shares of the company's stock traded hands, compared to its average volume of 350,336. The firm has a market capitalization of $7.22 billion, a P/E ratio of 26.27 and a beta of 0.90. The business has a fifty day moving average price of $243.77 and a 200-day moving average price of $259.47. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.12 and a quick ratio of 3.67.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $651.60 million during the quarter, compared to analysts' expectations of $614.82 million. During the same quarter in the previous year, the business earned $3.11 EPS. Bio-Rad Laboratories's revenue was up 2.1% compared to the same quarter last year. Equities analysts expect 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.