Bio-Rad Laboratories, Inc. (NYSE:BIO) Stake Reduced by Legal & General Group Plc

Legal & General Group Plc reduced its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 38.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,932 shares of the medical research company's stock after selling 37,438 shares during the quarter. Legal & General Group Plc owned 0.21% of Bio-Rad Laboratories worth $19,360,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Federated Hermes Inc. increased its holdings in Bio-Rad Laboratories by 13.5% in the 4th quarter. Federated Hermes Inc. now owns 137,561 shares of the medical research company's stock valued at $45,190,000 after purchasing an additional 16,338 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Bio-Rad Laboratories by 6.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 105,027 shares of the medical research company's stock worth $34,502,000 after buying an additional 6,287 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $1,845,000. ExodusPoint Capital Management LP acquired a new position in Bio-Rad Laboratories during the 4th quarter worth approximately $5,193,000. Finally, Bryce Point Capital LLC acquired a new position in shares of Bio-Rad Laboratories during the fourth quarter worth $525,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Performance

BIO traded down $7.19 during trading hours on Friday, hitting $238.02. The company's stock had a trading volume of 231,477 shares, compared to its average volume of 319,120. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a fifty-two week low of $215.38 and a fifty-two week high of $387.99. The company has a 50-day simple moving average of $255.62 and a 200 day simple moving average of $311.81. The firm has a market capitalization of $6.67 billion, a PE ratio of -3.66 and a beta of 1.12.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, beating analysts' consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BIO. Royal Bank of Canada reissued an "outperform" rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. StockNews.com cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Finally, Wells Fargo & Company reduced their price target on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Bio-Rad Laboratories has a consensus rating of "Moderate Buy" and an average price target of $380.20.

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.