Sumitomo Mitsui Trust Holdings Inc. Lowers Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,564 shares of the medical research company’s stock after selling 2,108 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.18% of Bio-Rad Laboratories worth $16,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BIO. Massachusetts Financial Services Co. MA purchased a new stake in Bio-Rad Laboratories in the 3rd quarter valued at approximately $116,036,000. Parnassus Investments LLC acquired a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at approximately $79,143,000. Deerfield Management Company L.P. Series C acquired a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at approximately $62,351,000. Earnest Partners LLC lifted its position in shares of Bio-Rad Laboratories by 25.6% during the 3rd quarter. Earnest Partners LLC now owns 351,510 shares of the medical research company’s stock valued at $125,999,000 after acquiring an additional 71,570 shares during the period. Finally, QVIDTVM Management LLC acquired a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at approximately $24,794,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

BIO has been the subject of several research reports. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. UBS Group lifted their price objective on Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their price target for the company from $400.00 to $365.00 in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada cut 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $468.00.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 6,942 shares of the company’s stock, valued at approximately $2,332,512. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 17.06% of the stock is currently owned by corporate insiders.

Bio-Rad Laboratories Stock Up 0.1 %

Shares of NYSE BIO opened at $279.91 on Tuesday. Bio-Rad Laboratories, Inc. has a 52-week low of $261.59 and a 52-week high of $473.50. The firm has a fifty day moving average of $328.92 and a 200-day moving average of $319.24. The stock has a market capitalization of $7.98 billion, a PE ratio of -13.03 and a beta of 0.87. 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 (NYSE:BIO) last announced its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $681.18 million during the quarter, compared to analysts’ expectations of $685.00 million. During the same period in the prior year, the company earned $3.31 EPS. The firm’s revenue was down 6.7% on a year-over-year basis. On average, analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.41 EPS 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.