Bio-Rad Laboratories (NYSE:BIO) Shares Down 3.9%

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) fell 3.9% on Thursday . The stock traded as low as $316.99 and last traded at $318.05. 97,868 shares were traded during mid-day trading, a decline of 50% from the average session volume of 195,878 shares. The stock had previously closed at $331.09.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BIO. Citigroup cut Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $400.00 to $365.00 in a report on Wednesday, April 3rd. Royal Bank of Canada reduced their price target on Bio-Rad Laboratories from $484.00 to $480.00 and set an "outperform" rating for the company in a report on Friday, February 16th. StockNews.com cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Friday, April 5th. Finally, UBS Group lifted their price target on Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $468.00.

Bio-Rad Laboratories Trading Down 5.8 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 5.83 and a quick ratio of 4.34. The business's 50-day moving average price is $334.11 and its two-hundred day moving average price is $322.92. The company has a market capitalization of $8.89 billion, a price-to-earnings ratio of -15.41 and a beta of 0.87.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 EPS for the quarter, beating the consensus estimate of $2.93 by $0.17. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The business had revenue of $681.18 million during the quarter, compared to the consensus estimate of $685.00 million. During the same period in the previous year, the business earned $3.31 earnings per share. The company's revenue was down 6.7% on a year-over-year basis. Research analysts predict that Bio-Rad Laboratories, Inc. will post 10.41 earnings per share for the current year.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the business's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the sale, the executive vice president now owns 6,942 shares of the company's stock, valued at $2,332,512. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 17.50% of the company's stock.

Institutional Trading of Bio-Rad Laboratories

Several institutional investors have recently modified their holdings of the business. Eagle Asset Management Inc. boosted its position in Bio-Rad Laboratories by 1.0% during the fourth quarter. Eagle Asset Management Inc. now owns 2,225 shares of the medical research company's stock valued at $939,000 after acquiring an additional 23 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Bio-Rad Laboratories by 6.8% during the first quarter. Mather Group LLC. now owns 377 shares of the medical research company's stock valued at $212,000 after purchasing an additional 24 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Bio-Rad Laboratories by 5.5% during the first quarter. Raymond James Trust N.A. now owns 501 shares of the medical research company's stock valued at $283,000 after purchasing an additional 26 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Bio-Rad Laboratories by 3.9% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 768 shares of the medical research company's stock valued at $320,000 after purchasing an additional 29 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of Bio-Rad Laboratories by 42.3% during the second quarter. Farther Finance Advisors LLC now owns 101 shares of the medical research company's stock valued at $38,000 after purchasing an additional 30 shares during the period. Institutional investors own 65.24% of the company's stock.

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.