Fmr LLC Lowers Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

FMR LLC reduced its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 94.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,412 shares of the medical research company's stock after selling 72,991 shares during the quarter. FMR LLC's holdings in Bio-Rad Laboratories were worth $1,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC grew its stake in Bio-Rad Laboratories by 193.8% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company's stock worth $26,000 after acquiring an additional 62 shares in the last quarter. UMB Bank n.a. increased its holdings 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 worth $26,000 after purchasing an additional 45 shares during the period. Gladius Capital Management LP bought a new stake in Bio-Rad Laboratories during the 3rd quarter valued at $32,000. Headlands Technologies LLC purchased a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth $51,000. Finally, Quarry LP bought a new position in shares of Bio-Rad Laboratories during the 2nd quarter worth $59,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on BIO. Royal Bank of Canada increased their target price on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Citigroup boosted their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. StockNews.com raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company assumed coverage on shares of Bio-Rad Laboratories in a research report on Tuesday, August 27th. They issued an "equal weight" rating and a $340.00 price objective on the stock. 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $394.20.

Bio-Rad Laboratories Stock Up 2.1 %

Shares of BIO stock traded up $6.91 during trading hours on Monday, reaching $343.19. 221,117 shares of the company's stock were exchanged, compared to its average volume of 241,495. The stock has a market cap of $9.61 billion, a PE ratio of -12.30 and a beta of 0.90. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average price is $341.35 and its two-hundred day moving average price is $321.29. Bio-Rad Laboratories, Inc. has a 1 year low of $262.12 and a 1 year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $649.70 million during the quarter, compared to analysts' expectations 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 business's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $2.33 earnings per share. Research analysts predict that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current year.

Bio-Rad Laboratories Company Profile

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.