Allspring Global Investments Holdings LLC Decreases Stake in Bio-Rad Laboratories, Inc. $BIO

Allspring Global Investments Holdings LLC cut its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 129,211 shares of the medical research company’s stock after selling 5,556 shares during the period. Allspring Global Investments Holdings LLC owned 0.48% of Bio-Rad Laboratories worth $39,444,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BIO. Sector Gamma AS boosted its holdings in shares of Bio-Rad Laboratories by 28.0% in the 3rd quarter. Sector Gamma AS now owns 22,827 shares of the medical research company’s stock worth $6,400,000 after purchasing an additional 4,998 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Bio-Rad Laboratories by 67.1% during the 3rd quarter. Natixis Advisors LLC now owns 65,069 shares of the medical research company’s stock valued at $18,245,000 after buying an additional 26,119 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Bio-Rad Laboratories by 54.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 21,580 shares of the medical research company’s stock worth $6,051,000 after buying an additional 7,648 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Bio-Rad Laboratories by 461.0% in the 3rd quarter. TD Asset Management Inc now owns 8,988 shares of the medical research company’s stock valued at $2,520,000 after purchasing an additional 7,386 shares in the last quarter. Finally, Gotham Asset Management LLC grew its holdings in shares of Bio-Rad Laboratories by 41.8% during the 3rd quarter. Gotham Asset Management LLC now owns 124,626 shares of the medical research company’s stock valued at $34,944,000 after purchasing an additional 36,763 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BIO. Wall Street Zen downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $358.50.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $279.83 on Friday. The company has a 50 day simple moving average of $278.70 and a two-hundred day simple moving average of $298.30. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week high of $343.12. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 10.03 and a beta of 1.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.19 and a current ratio of 5.62.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, February 12th. The medical research company reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by ($0.06). The company had revenue of $693.20 million during the quarter, compared to analysts’ expectations of $694.64 million. Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 29.42%.Bio-Rad Laboratories’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 EPS. Analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.