Worldquant Millennium Advisors LLC Sells 7,436 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Worldquant Millennium Advisors LLC reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 69.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,316 shares of the medical research company's stock after selling 7,436 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Bio-Rad Laboratories were worth $1,089,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BIO. Strategic Financial Concepts LLC acquired a new position in Bio-Rad Laboratories in the fourth quarter valued at $3,561,000. Lecap Asset Management Ltd. acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $510,000. DAVENPORT & Co LLC grew its stake in shares of Bio-Rad Laboratories by 48.8% in the fourth quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company's stock valued at $27,817,000 after buying an additional 27,780 shares in the last quarter. Sivik Global Healthcare LLC acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $3,285,000. Finally, LPL Financial LLC grew its stake in shares of Bio-Rad Laboratories by 34.3% in the fourth quarter. LPL Financial LLC now owns 5,195 shares of the medical research company's stock valued at $1,707,000 after buying an additional 1,326 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on BIO. Wall Street Zen downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Royal Bank of Canada reduced their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company dropped their price target on Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Citigroup dropped 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. Finally, UBS Group lowered 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Bio-Rad Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $327.40.

Bio-Rad Laboratories Price Performance

Shares of BIO traded down $1.90 during trading hours on Wednesday, hitting $228.46. 50,775 shares of the company were exchanged, compared to its average volume of 315,194. The company has a market capitalization of $6.22 billion, a PE ratio of -3.51 and a beta of 1.00. The firm has a fifty day simple moving average of $240.51 and a 200-day simple moving average of $291.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85. Bio-Rad Laboratories, Inc. has a one year low of $215.38 and a one year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results 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. The company had revenue of $585.40 million for the quarter, compared to the consensus estimate of $573.01 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. The firm's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.30 EPS. As a group, sell-side analysts predict 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.