Allspring Global Investments Holdings LLC Has $46.88 Million Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Allspring Global Investments Holdings LLC lessened its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 143,737 shares of the medical research company's stock after selling 4,985 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.51% of Bio-Rad Laboratories worth $46,881,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BIO. Van ECK Associates Corp boosted its holdings in Bio-Rad Laboratories by 97.8% during the third quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company's stock worth $436,861,000 after buying an additional 644,530 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Bio-Rad Laboratories in the 3rd quarter valued at approximately $83,681,000. Wedge Capital Management L L P NC bought a new position in Bio-Rad Laboratories during the 4th quarter worth approximately $28,740,000. Mawer Investment Management Ltd. grew its holdings in Bio-Rad Laboratories by 63.0% during the third quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company's stock valued at $72,900,000 after purchasing an additional 84,237 shares during the period. Finally, DAVENPORT & Co LLC increased its stake in Bio-Rad Laboratories by 48.8% in the fourth quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company's stock valued at $27,817,000 after purchasing an additional 27,780 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Down 9.7 %

Shares of BIO traded down $29.81 during midday trading on Monday, hitting $276.55. The stock had a trading volume of 1,065,491 shares, compared to its average volume of 151,421. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of -10.12 and a beta of 0.90. The company has a 50 day simple moving average of $337.34 and a two-hundred day simple moving average of $335.68. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. On average, analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.33 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BIO shares. Wells Fargo & Company reduced 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 research report on Wednesday, February 12th. StockNews.com lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Monday. Citigroup increased their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $481.00 price objective 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 company's stock. According to MarketBeat, the company 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.