Xponance Inc. Has $883,000 Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Xponance Inc. lowered its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 17.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,734 shares of the medical research company’s stock after selling 562 shares during the period. Xponance Inc.’s holdings in Bio-Rad Laboratories were worth $883,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brown Advisory Inc. grew its stake in Bio-Rad Laboratories by 3.1% in the 3rd quarter. Brown Advisory Inc. now owns 955,732 shares of the medical research company’s stock valued at $342,582,000 after buying an additional 28,724 shares during the last quarter. Earnest Partners LLC grew its stake in Bio-Rad Laboratories by 25.6% in the 3rd quarter. Earnest Partners LLC now owns 351,510 shares of the medical research company’s stock valued at $125,999,000 after buying an additional 71,570 shares during the last quarter. Invesco Ltd. grew its stake in Bio-Rad Laboratories by 8.0% in the 3rd quarter. Invesco Ltd. now owns 343,462 shares of the medical research company’s stock valued at $123,114,000 after buying an additional 25,562 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Bio-Rad Laboratories in the 3rd quarter valued at about $116,036,000. Finally, Thompson Siegel & Walmsley LLC grew its stake in Bio-Rad Laboratories by 6.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 312,583 shares of the medical research company’s stock valued at $112,046,000 after buying an additional 18,419 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Transactions at Bio-Rad Laboratories

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

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock opened at $275.42 on Friday. The company has a 50 day moving average of $326.24 and a 200-day moving average of $318.15. Bio-Rad Laboratories, Inc. has a 1-year low of $261.59 and a 1-year high of $473.50. The company has a current ratio of 5.83, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14. The company has a market cap of $7.85 billion, a PE ratio of -12.82 and a beta of 0.87.

Bio-Rad Laboratories (NYSE:BIO) last issued 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 company had revenue of $681.18 million during the quarter, compared to the consensus estimate of $685.00 million. During the same quarter in the prior year, the firm posted $3.31 EPS. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. As a group, equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BIO shares. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada cut 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 report on Friday, February 16th. UBS Group boosted their price objective on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their price objective for the company from $400.00 to $365.00 in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Bio-Rad Laboratories has an average rating of “Moderate Buy” and a consensus price target of $468.00.

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.