Federated Hermes Inc. Has $30.66 Million Position in Bio-Rad Laboratories, Inc. $BIO

Federated Hermes Inc. lowered its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 9.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,058 shares of the medical research company’s stock after selling 13,192 shares during the quarter. Federated Hermes Inc. owned about 0.47% of Bio-Rad Laboratories worth $30,662,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Bio-Rad Laboratories by 3,633.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 112 shares of the medical research company’s stock worth $27,000 after buying an additional 109 shares during the period. Quarry LP acquired a new position in Bio-Rad Laboratories during the 1st quarter worth $29,000. UMB Bank n.a. boosted its holdings in Bio-Rad Laboratories by 89.8% during the second quarter. UMB Bank n.a. now owns 167 shares of the medical research company’s stock valued at $40,000 after acquiring an additional 79 shares during the period. Headlands Technologies LLC boosted its holdings in Bio-Rad Laboratories by 64.1% during the first quarter. Headlands Technologies LLC now owns 356 shares of the medical research company’s stock valued at $87,000 after acquiring an additional 139 shares during the period. Finally, Twin Tree Management LP acquired a new stake in shares of Bio-Rad Laboratories in the first quarter valued at about $87,000. Institutional investors own 65.24% of the company’s stock.

Insider Activity at Bio-Rad Laboratories

In other news, EVP James Barry sold 700 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $306.18, for a total value of $214,326.00. Following the sale, the executive vice president owned 510 shares of the company’s stock, valued at approximately $156,151.80. This represents a 57.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 17.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BIO. Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Wells Fargo & Company raised their price objective on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Citigroup upped their target price on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research report on Monday. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $358.50.

Bio-Rad Laboratories Trading Down 0.2%

BIO stock opened at $307.96 on Wednesday. Bio-Rad Laboratories, Inc. has a 1-year low of $211.43 and a 1-year high of $373.69. The company has a current ratio of 5.44, a quick ratio of 3.94 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $314.69 and its 200-day moving average is $279.52. The firm has a market cap of $8.31 billion, a P/E ratio of -12.67 and a beta of 1.18.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Wednesday, October 29th. The medical research company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.04). Bio-Rad Laboratories had a negative net margin of 26.43% and a positive return on equity of 4.19%. The company had revenue of $653.00 million during the quarter, compared to analyst estimates of $651.30 million. During the same period in the prior year, the firm earned $2.01 EPS. Bio-Rad Laboratories’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal 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.