CIBC Private Wealth Group LLC Cuts Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

CIBC Private Wealth Group LLC trimmed its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,106 shares of the medical research company's stock after selling 1,243 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.15% of Bio-Rad Laboratories worth $14,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Bio-Rad Laboratories by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,919,808 shares of the medical research company's stock valued at $630,676,000 after buying an additional 12,168 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in Bio-Rad Laboratories in the 4th quarter valued at approximately $342,686,000. Sei Investments Co. raised its holdings in Bio-Rad Laboratories by 7.5% during the fourth quarter. Sei Investments Co. now owns 271,387 shares of the medical research company's stock worth $89,156,000 after purchasing an additional 18,873 shares during the last quarter. Mawer Investment Management Ltd. raised its holdings in Bio-Rad Laboratories by 17.9% during the fourth quarter. Mawer Investment Management Ltd. now owns 256,927 shares of the medical research company's stock worth $84,403,000 after purchasing an additional 39,042 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Bio-Rad Laboratories during the third quarter worth $83,681,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

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

Bio-Rad Laboratories Trading Down 4.1 %

NYSE:BIO traded down $9.54 on Friday, reaching $225.21. The stock had a trading volume of 766,924 shares, compared to its average volume of 300,791. Bio-Rad Laboratories, Inc. has a 12-month low of $221.18 and a 12-month high of $387.99. The company has a market cap of $6.31 billion, a price-to-earnings ratio of -3.46 and a beta of 1.12. The firm's fifty day moving average is $281.98 and its two-hundred day moving average is $319.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. Equities 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 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.