JPMorgan Chase & Co. Sells 4,840 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

JPMorgan Chase & Co. cut its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,136 shares of the medical research company's stock after selling 4,840 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.19% of Bio-Rad Laboratories worth $18,113,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position 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 purchasing an additional 644,530 shares during the period. 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 worth $173,773,000 after acquiring an additional 634,311 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Bio-Rad Laboratories in the third quarter worth $83,681,000. Dimensional Fund Advisors LP raised its stake in shares of Bio-Rad Laboratories by 64.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company's stock valued at $135,081,000 after purchasing an additional 193,700 shares during the period. Finally, Select Equity Group L.P. lifted its holdings in Bio-Rad Laboratories by 26.2% during the 2nd 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. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO traded down $2.52 during trading on Friday, reaching $341.86. The company had a trading volume of 132,666 shares, compared to its average volume of 130,477. The company has a fifty day moving average of $339.69 and a two-hundred day moving average of $326.93. 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 has a market capitalization of $9.57 billion, a P/E ratio of -12.51 and a beta of 0.90. 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 results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.85. The firm had revenue of $649.70 million during the quarter, compared to analyst estimates 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 company's revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 earnings per share. Equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Royal Bank of Canada raised their price target on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Finally, Citigroup upped their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $394.20.

Bio-Rad Laboratories 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.