Massachusetts Financial Services Co. MA Sells 50,566 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Massachusetts Financial Services Co. MA trimmed its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 93.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,597 shares of the medical research company's stock after selling 50,566 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Bio-Rad Laboratories were worth $1,182,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Venturi Wealth Management LLC boosted its stake in Bio-Rad Laboratories by 2,175.0% in the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in shares of Bio-Rad Laboratories by 55.6% in the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock worth $32,000 after buying an additional 35 shares in the last quarter. Asset Planning Inc purchased a new stake in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $33,000. UMB Bank n.a. increased its position in shares of 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 acquiring an additional 32 shares in the last quarter. Finally, Cape Investment Advisory Inc. purchased a new position in Bio-Rad Laboratories in the 4th quarter worth approximately $38,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

BIO stock traded up $1.38 during trading on Monday, reaching $247.18. The stock had a trading volume of 27,889 shares, compared to its average volume of 315,128. The firm has a market cap of $6.92 billion, a PE ratio of -3.80 and a beta of 1.12. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The stock's 50 day moving average is $264.86 and its two-hundred day moving average is $314.68. Bio-Rad Laboratories, Inc. has a 52 week low of $215.38 and a 52 week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 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%. As a group, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.