Allspring Global Investments Holdings LLC Sells 2,344 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Allspring Global Investments Holdings LLC trimmed its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 163,783 shares of the medical research company’s stock after selling 2,344 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.57% of Bio-Rad Laboratories worth $56,648,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Sound Income Strategies LLC bought a new stake in Bio-Rad Laboratories during the 1st quarter valued at $38,000. Gladius Capital Management LP raised its holdings in Bio-Rad Laboratories by 65.8% during the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after buying an additional 48 shares during the last quarter. Principal Securities Inc. bought a new stake in Bio-Rad Laboratories during the 4th quarter valued at $41,000. GAMMA Investing LLC bought a new stake in Bio-Rad Laboratories during the 4th quarter valued at $42,000. Finally, Parallel Advisors LLC raised its holdings in Bio-Rad Laboratories by 36.8% during the 4th quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock valued at $55,000 after buying an additional 46 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group reduced their price objective on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $400.00 to $365.00 in a research report on Wednesday, April 3rd. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $436.67.

Insider Buying and Selling

In related news, EVP Michael Crowley sold 369 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $281.91, for a total value of $104,024.79. Following the transaction, the executive vice president now owns 6,573 shares in the company, valued at approximately $1,852,994.43. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 17.50% of the stock is currently owned by company insiders.

Bio-Rad Laboratories Stock Up 1.4 %

NYSE:BIO opened at $267.55 on Wednesday. The firm’s 50-day moving average price is $283.34 and its 200-day moving average price is $309.88. The company has a market capitalization of $7.63 billion, a PE ratio of -25.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.57 and a quick ratio of 4.89. Bio-Rad Laboratories, Inc. has a 1-year low of $261.59 and a 1-year high of $431.79.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. The firm had revenue of $610.82 million for the quarter, compared to the consensus estimate of $619.09 million. Bio-Rad Laboratories had a negative net margin of 12.37% and a positive return on equity of 3.59%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.34 EPS. On average, equities analysts predict that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current fiscal year.

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.