Bank of New York Mellon Corp Has $87.81 Million Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Bank of New York Mellon Corp reduced its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,306 shares of the medical research company's stock after selling 2,041 shares during the period. Bank of New York Mellon Corp owned about 0.95% of Bio-Rad Laboratories worth $87,813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Venturi Wealth Management LLC boosted its stake in Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Gladius Capital Management LP bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth approximately $32,000. Asset Planning Inc bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $33,000. UMB Bank n.a. lifted its stake in Bio-Rad Laboratories by 41.6% during the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company's stock valued at $36,000 after purchasing an additional 32 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Bio-Rad Laboratories in the third quarter worth approximately $55,000. Institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Down 2.3 %

BIO stock traded down $5.91 during midday trading on Tuesday, reaching $250.54. The company had a trading volume of 109,473 shares, compared to its average volume of 229,548. The company has a 50 day moving average of $325.57 and a two-hundred day moving average of $332.16. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 1 year low of $248.22 and a 1 year high of $387.99. The company has a market capitalization of $7.02 billion, a P/E ratio of -3.85 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating analysts' consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. On average, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BIO. Royal Bank of Canada restated an "outperform" rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. StockNews.com downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Wells Fargo & Company cut their price target on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Bio-Rad Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $395.20.

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.