Franklin Resources Inc. lessened its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,243 shares of the medical research company's stock after selling 3,469 shares during the quarter. Franklin Resources Inc. owned approximately 0.42% of Bio-Rad Laboratories worth $39,987,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Bio-Rad Laboratories by 97.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company's stock worth $436,861,000 after purchasing an additional 644,530 shares during the last quarter. Select Equity Group L.P. raised its holdings in Bio-Rad Laboratories by 26.2% in the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company's stock worth $177,391,000 after purchasing an additional 134,856 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Bio-Rad Laboratories by 32,296.9% during the second quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company's stock valued at $173,773,000 after buying an additional 634,311 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of Bio-Rad Laboratories by 17.8% in the 2nd quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company's stock valued at $165,720,000 after buying an additional 91,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Bio-Rad Laboratories by 64.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company's stock worth $135,081,000 after buying an additional 193,700 shares during the last quarter. Institutional investors own 65.24% of the company's stock.
Bio-Rad Laboratories Stock Performance
Shares of NYSE BIO traded down $13.91 during midday trading on Wednesday, reaching $323.94. The company had a trading volume of 171,899 shares, compared to its average volume of 241,148. The stock has a market cap of $9.07 billion, a P/E ratio of -11.85 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. Bio-Rad Laboratories, Inc. has a 1 year low of $262.12 and a 1 year high of $387.99. The business's 50-day simple moving average is $341.06 and its 200 day simple moving average is $322.09.
Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.85. The company had revenue of $649.70 million during the quarter, compared to analysts' expectations of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The firm's revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.33 EPS. On average, analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research firms recently commented 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 company an "outperform" rating in a research report on Monday, December 9th. Citigroup increased their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research report on Tuesday, August 27th. They issued an "equal weight" rating and a $340.00 price objective for the company. Finally, StockNews.com raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $394.20.
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Bio-Rad Laboratories Profile
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Free Report)
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.
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