Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by State Street Corp

State Street Corp lowered its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 26.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 635,916 shares of the medical research company's stock after selling 223,975 shares during the quarter. State Street Corp owned about 2.27% of Bio-Rad Laboratories worth $212,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Capital Advisors Ltd. LLC boosted its holdings in shares of Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company's stock valued at $26,000 after purchasing an additional 62 shares during the period. UMB Bank n.a. raised its position in Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company's stock valued at $26,000 after purchasing an additional 45 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth $32,000. Headlands Technologies LLC bought a new position in shares of Bio-Rad Laboratories during the 2nd quarter worth $51,000. Finally, Point72 Hong Kong Ltd bought a new position in Bio-Rad Laboratories during the 3rd quarter worth about $55,000. Institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Trading Down 0.7 %

Shares of NYSE BIO traded down $2.38 during trading on Thursday, hitting $339.13. 45,082 shares of the company were exchanged, compared to its average volume of 241,645. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. Bio-Rad Laboratories, Inc. has a 12-month low of $262.12 and a 12-month high of $387.99. The company has a fifty day moving average price of $341.46 and a 200-day moving average price of $320.32. The firm has a market capitalization of $9.49 billion, a PE ratio of -12.50 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.85. The company had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. Bio-Rad Laboratories's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.33 EPS. As a group, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current year.

Analyst Ratings Changes

BIO has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on Bio-Rad Laboratories from $369.00 to $481.00 and gave the company an "outperform" rating in a report on Monday. StockNews.com raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Citigroup boosted their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an "equal weight" rating and a $340.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $394.20.

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.