Chevy Chase Trust Holdings LLC Cuts Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Chevy Chase Trust Holdings LLC cut its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,141 shares of the medical research company’s stock after selling 453 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Bio-Rad Laboratories were worth $3,043,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new stake in Bio-Rad Laboratories in the first quarter valued at $38,000. Gladius Capital Management LP increased its holdings in shares of Bio-Rad Laboratories by 65.8% in the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 48 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $41,000. GAMMA Investing LLC purchased a new stake in Bio-Rad Laboratories during the fourth quarter worth about $42,000. Finally, EntryPoint Capital LLC acquired a new position in Bio-Rad Laboratories during the first quarter worth about $51,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael Crowley sold 369 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $281.91, for a total value of $104,024.79. Following the completion of the transaction, the executive vice president now owns 6,573 shares of the company’s stock, valued at $1,852,994.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 17.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BIO. Royal Bank of Canada reissued an “outperform” rating and set a $401.00 price target on shares of Bio-Rad Laboratories in a research note on Friday, August 16th. Jefferies Financial Group reiterated a “hold” rating and set a $315.00 target price (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Citigroup upped their target price on Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, UBS Group lowered 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 note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $362.75.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $310.03 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.89 and a current ratio of 6.57. The business’s fifty day moving average price is $302.95 and its two-hundred day moving average price is $308.14. The stock has a market cap of $8.84 billion, a PE ratio of -29.93 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $406.44.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.99. The business had revenue of $638.50 million for the quarter, compared to analyst estimates of $645.79 million. Bio-Rad Laboratories had a positive return on equity of 3.56% and a negative net margin of 51.73%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 earnings per share. On average, analysts forecast that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current fiscal year.

Bio-Rad Laboratories Company 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.