Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 24.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,425 shares of the medical research company's stock after selling 2,993 shares during the quarter. Fifth Third Bancorp's holdings in Bio-Rad Laboratories were worth $3,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIO. UMB Bank n.a. lifted its holdings in shares of Bio-Rad Laboratories by 140.6% in the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company's stock worth $26,000 after acquiring an additional 45 shares during the last quarter. Gladius Capital Management LP bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth about $32,000. Point72 Hong Kong Ltd bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth about $55,000. Quarry LP purchased a new position in Bio-Rad Laboratories in the 2nd quarter worth about $59,000. Finally, Canada Pension Plan Investment Board purchased a new position in Bio-Rad Laboratories in the 2nd quarter worth about $82,000. Institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

BIO has been the topic of several recent analyst reports. Citigroup raised their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. StockNews.com raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $394.20.

Bio-Rad Laboratories Stock Up 0.8 %

NYSE BIO traded up $2.93 during trading on Friday, reaching $361.79. 162,710 shares of the company's stock traded hands, compared to its average volume of 155,171. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. The firm has a market cap of $10.13 billion, a price-to-earnings ratio of -13.24 and a beta of 0.90. The company's 50 day simple moving average is $339.69 and its two-hundred day simple moving average is $334.63. Bio-Rad Laboratories, Inc. has a 12-month low of $262.12 and a 12-month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.85. The firm had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 EPS. As a group, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.33 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.