Cerity Partners LLC Has $1.67 Million Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Cerity Partners LLC cut its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,872 shares of the medical research company’s stock after selling 607 shares during the period. Cerity Partners LLC’s holdings in Bio-Rad Laboratories were worth $1,674,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Bio-Rad Laboratories by 0.5% in the first quarter. Principal Financial Group Inc. now owns 44,343 shares of the medical research company’s stock valued at $10,800,000 after acquiring an additional 236 shares during the period. Crossmark Global Holdings Inc. grew its stake in Bio-Rad Laboratories by 14.6% in the first quarter. Crossmark Global Holdings Inc. now owns 966 shares of the medical research company’s stock valued at $235,000 after acquiring an additional 123 shares during the period. New York State Teachers Retirement System grew its stake in Bio-Rad Laboratories by 1.2% in the first quarter. New York State Teachers Retirement System now owns 17,500 shares of the medical research company’s stock valued at $4,262,000 after acquiring an additional 200 shares during the period. Asset Management One Co. Ltd. grew its stake in Bio-Rad Laboratories by 4.6% in the first quarter. Asset Management One Co. Ltd. now owns 7,182 shares of the medical research company’s stock valued at $1,749,000 after acquiring an additional 315 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Bio-Rad Laboratories by 25.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,033 shares of the medical research company’s stock valued at $252,000 after acquiring an additional 209 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BIO shares. Wells Fargo & Company reduced 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 report on Monday, June 9th. Citigroup reduced their price objective on Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. UBS Group dropped their target price on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, Royal Bank Of Canada dropped their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $324.25.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $246.31 on Monday. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99. The stock’s 50 day moving average is $238.30 and its 200-day moving average is $265.94. The company has a current ratio of 5.99, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of -3.23 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, May 1st. The medical research company reported $2.54 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $573.01 million. During the same quarter in the prior year, the business earned $2.30 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 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.