Federated Hermes Inc. Purchases 17,762 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Federated Hermes Inc. increased its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 28.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,490 shares of the medical research company’s stock after acquiring an additional 17,762 shares during the quarter. Federated Hermes Inc.’s holdings in Bio-Rad Laboratories were worth $25,667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Eagle Asset Management Inc. raised its stake in Bio-Rad Laboratories by 1.0% in the fourth quarter. Eagle Asset Management Inc. now owns 2,225 shares of the medical research company’s stock valued at $939,000 after purchasing an additional 23 shares in the last quarter. Mather Group LLC. raised its stake 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 in the last quarter. Raymond James Trust N.A. raised its stake 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 in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake 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 in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake 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 in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada decreased their price target on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. UBS Group lifted their price target on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Finally, Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $468.00.

Insider Activity at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 3,000 shares of Bio-Rad Laboratories stock in a transaction on Tuesday, February 27th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.06% of the stock is currently owned by company insiders.

Bio-Rad Laboratories Stock Down 0.5 %

Shares of NYSE BIO opened at $279.73 on Monday. 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 52 week low of $261.59 and a 52 week high of $473.76. The firm’s fifty day moving average is $329.85 and its 200 day moving average is $319.77. The company has a market cap of $7.98 billion, a price-to-earnings ratio of -13.02 and a beta of 0.87.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, February 15th. The medical research company reported $3.10 EPS for the quarter, topping the consensus estimate of $2.93 by $0.17. The company had revenue of $681.18 million for the quarter, compared to the consensus estimate of $685.00 million. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.31 earnings per share. On average, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.41 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.