Brown Advisory Inc. Has $264,000 Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Brown Advisory Inc. trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 24.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,084 shares of the medical research company’s stock after selling 344 shares during the quarter. Brown Advisory Inc.’s holdings in Bio-Rad Laboratories were worth $264,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in Bio-Rad Laboratories by 0.5% during the first quarter. Principal Financial Group Inc. now owns 44,343 shares of the medical research company’s stock worth $10,800,000 after acquiring an additional 236 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Bio-Rad Laboratories by 14.6% during the first quarter. Crossmark Global Holdings Inc. now owns 966 shares of the medical research company’s stock worth $235,000 after acquiring an additional 123 shares in the last quarter. New York State Teachers Retirement System raised its stake in Bio-Rad Laboratories by 1.2% during the first quarter. New York State Teachers Retirement System now owns 17,500 shares of the medical research company’s stock worth $4,262,000 after acquiring an additional 200 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in Bio-Rad Laboratories by 4.6% during the first quarter. Asset Management One Co. Ltd. now owns 7,182 shares of the medical research company’s stock worth $1,749,000 after acquiring an additional 315 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Bio-Rad Laboratories by 35.2% during the first quarter. Blue Trust Inc. now owns 1,438 shares of the medical research company’s stock worth $350,000 after acquiring an additional 374 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BIO has been the subject of several recent analyst reports. UBS Group dropped their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company dropped their price objective on Bio-Rad Laboratories from $260.00 to $245.00 and set an “equal weight” rating for the company in a research note on Monday, June 9th. Citigroup dropped their price objective on Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Royal Bank Of Canada dropped their price objective on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $324.25.

Bio-Rad Laboratories Stock Performance

Shares of NYSE:BIO opened at $247.26 on Thursday. Bio-Rad Laboratories, Inc. has a twelve month low of $211.43 and a twelve month high of $387.99. The firm has a market cap of $6.73 billion, a PE ratio of -3.24 and a beta of 0.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.43 and a current ratio of 5.99. The business has a fifty day moving average of $237.97 and a 200-day moving average of $267.88.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.81. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. The company had revenue of $585.40 million during the quarter, compared to analyst estimates of $573.01 million. During the same period last year, the company posted $2.30 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

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.