Allspring Global Investments Holdings LLC Sells 7,691 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Allspring Global Investments Holdings LLC lessened its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 148,722 shares of the medical research company's stock after selling 7,691 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.52% of Bio-Rad Laboratories worth $49,759,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BIO. First Eagle Investment Management LLC increased its stake in Bio-Rad Laboratories by 32,296.9% during the 2nd 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 during the period. Swedbank AB acquired a new position in Bio-Rad Laboratories in the first quarter valued at about $1,824,000. DAVENPORT & Co LLC acquired a new position in Bio-Rad Laboratories in the first quarter valued at about $15,340,000. Gabelli Funds LLC lifted its position in Bio-Rad Laboratories by 16.8% during the first quarter. Gabelli Funds LLC now owns 41,800 shares of the medical research company's stock worth $14,457,000 after purchasing an additional 6,000 shares during the period. Finally, Qsemble Capital Management LP bought a new position in Bio-Rad Laboratories in the 1st quarter valued at about $567,000. Institutional investors own 65.24% of the company's stock.

Insider Buying and Selling

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the business's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the sale, the chief operating officer now directly owns 7,559 shares of the company's stock, valued at $2,494,016.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction on Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the transaction, the chief operating officer now owns 7,559 shares in the company, valued at approximately $2,494,016.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Barry sold 623 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the sale, the executive vice president now directly owns 147 shares in the company, valued at approximately $48,582.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.06% of the stock is owned by corporate insiders.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO traded down $4.76 during mid-day trading on Wednesday, hitting $335.08. 164,427 shares of the stock traded hands, compared to its average volume of 249,321. The company has a market cap of $9.56 billion, a PE ratio of -32.83 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a twelve month low of $261.59 and a twelve month high of $364.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.28 and a quick ratio of 4.63. The firm has a 50 day simple moving average of $331.15 and a two-hundred day simple moving average of $307.25.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its earnings results on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.12 by $0.99. The firm had revenue of $638.50 million during the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a positive return on equity of 3.77% and a negative net margin of 51.73%. The business's quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the company earned $3.00 earnings per share. As a group, equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $401.00 price target on shares of Bio-Rad Laboratories in a report on Friday, August 16th. StockNews.com downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. Citigroup raised Bio-Rad Laboratories from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $350.00 to $400.00 in a report on Tuesday, October 1st. Finally, Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an "equal weight" rating and a $340.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $368.20.

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.