Allspring Global Investments Holdings LLC boosted its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 166,127 shares of the medical research company's stock after purchasing an additional 17,341 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.57% of Bio-Rad Laboratories worth $53,641,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in BIO. Massachusetts Financial Services Co. MA bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter valued at approximately $116,036,000. Parnassus Investments LLC bought a new stake in Bio-Rad Laboratories during the 3rd quarter valued at $79,143,000. Norges Bank bought a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $91,443,000. Deerfield Management Company L.P. Series C purchased a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth approximately $62,351,000. Finally, Amundi boosted its position in Bio-Rad Laboratories by 45.0% during the 4th quarter. Amundi now owns 252,051 shares of the medical research company's stock valued at $116,238,000 after acquiring an additional 78,235 shares in the last quarter. Institutional investors own 65.24% of the company's stock.
Bio-Rad Laboratories Stock Performance
Shares of Bio-Rad Laboratories stock traded down $19.22 on Thursday, reaching $311.87. 271,032 shares of the stock were exchanged, compared to its average volume of 198,757. Bio-Rad Laboratories, Inc. has a twelve month low of $261.59 and a twelve month high of $494.05. The business has a 50 day moving average price of $333.76 and a two-hundred day moving average price of $322.84. The company has a quick ratio of 4.34, a current ratio of 5.83 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of -14.51 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 analysts' expectations of $685.00 million. During the same period in the previous year, the business posted $3.31 EPS. The business's quarterly revenue was down 6.7% compared to the same quarter last year. Analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.41 earnings per share for the current fiscal year.
Insider Buying and Selling at Bio-Rad Laboratories
In other news, EVP Michael Crowley sold 3,000 shares of the company's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total value of $1,008,000.00. Following the sale, the executive vice president now owns 6,942 shares in the company, valued at $2,332,512. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.50% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages have commented on BIO. StockNews.com downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Friday, April 5th. Royal Bank of Canada reduced their price objective on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an "outperform" rating for the company in a research note on Friday, February 16th. UBS Group raised their target price on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Finally, Citigroup downgraded Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $468.00.
View Our Latest Report on BIO
About Bio-Rad Laboratories
(
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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