M&T Bank Corp cut its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 17.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,789 shares of the medical research company’s stock after selling 390 shares during the quarter. M&T Bank Corp’s holdings in Bio-Rad Laboratories were worth $436,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. GeoWealth Management LLC grew its holdings in shares of Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 72 shares during the last quarter. Curat Global LLC bought a new stake in shares of Bio-Rad Laboratories during the 1st quarter valued at approximately $34,000. Brown Brothers Harriman & Co. grew its holdings in shares of Bio-Rad Laboratories by 2,928.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 212 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 205 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at approximately $71,000. Finally, Signaturefd LLC grew its holdings in Bio-Rad Laboratories by 13.2% during the 4th quarter. Signaturefd LLC now owns 265 shares of the medical research company’s stock worth $87,000 after acquiring an additional 31 shares during the last quarter. 65.24% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. UBS Group reduced their target price on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Citigroup reduced their target price on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Royal Bank Of Canada reduced their target price on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company reduced their target price on shares of Bio-Rad Laboratories from $260.00 to $245.00 and set an “equal weight” rating on the stock in a report on Monday, June 9th. Finally, Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Sunday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $324.25.
Bio-Rad Laboratories Price Performance
BIO stock opened at $247.26 on Thursday. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of -3.24 and a beta of 0.95. The company has a quick ratio of 4.43, a current ratio of 5.99 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 12-month low of $211.43 and a 12-month high of $387.99. The company’s fifty day simple moving average is $237.97 and its 200 day simple moving average is $267.88.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.81. The business had revenue of $585.40 million for the quarter, compared to analyst estimates of $573.01 million. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. Bio-Rad Laboratories’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.30 earnings per share. On average, analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.
Bio-Rad Laboratories 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.
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