Kornitzer Capital Management Inc. KS Sells 4,048 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Kornitzer Capital Management Inc. KS decreased its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 9.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,647 shares of the medical research company's stock after selling 4,048 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.13% of Bio-Rad Laboratories worth $11,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Eagle Asset Management Inc. lifted its position in Bio-Rad Laboratories by 1.0% in the 4th quarter. Eagle Asset Management Inc. now owns 2,225 shares of the medical research company's stock worth $939,000 after buying an additional 23 shares during the last quarter. Mather Group LLC. lifted its position in Bio-Rad Laboratories by 6.8% in 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 last quarter. Raymond James Trust N.A. lifted its position in Bio-Rad Laboratories by 5.5% in 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 last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in Bio-Rad Laboratories by 3.9% in 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 last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Bio-Rad Laboratories by 5.6% in the second quarter. Commonwealth Equity Services LLC now owns 721 shares of the medical research company's stock valued at $273,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, EVP Michael Crowley sold 3,000 shares of the company's stock in a transaction on 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 directly owns 6,942 shares of the company's stock, valued at $2,332,512. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.06% of the stock is owned by insiders.

Bio-Rad Laboratories Trading Down 0.5 %

Shares of BIO traded down $1.29 during mid-day trading on Friday, hitting $279.73. 294,125 shares of the company's stock traded hands, compared to its average volume of 190,036. The company has a quick ratio of 4.34, a current ratio of 5.83 and a debt-to-equity ratio of 0.14. Bio-Rad Laboratories, Inc. has a 1 year low of $261.59 and a 1 year high of $473.76. The firm has a market capitalization of $7.98 billion, a P/E ratio of -13.02 and a beta of 0.87. The business's 50-day moving average price is $329.85 and its 200-day moving average price is $320.01.

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