Fifth Third Bancorp Sells 2,993 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Fifth Third Bancorp decreased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIOFree Report) by 24.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,425 shares of the medical research company’s stock after selling 2,993 shares during the period. Fifth Third Bancorp’s holdings in Bio-Rad Laboratories were worth $3,096,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of Bio-Rad Laboratories by 4.7% during the 2nd quarter. American Century Companies Inc. now owns 5,380 shares of the medical research company’s stock valued at $1,469,000 after buying an additional 240 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Bio-Rad Laboratories during the second quarter valued at approximately $82,000. Public Sector Pension Investment Board purchased a new position in shares of Bio-Rad Laboratories during the second quarter worth approximately $232,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Bio-Rad Laboratories by 49.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,812 shares of the medical research company’s stock worth $1,041,000 after acquiring an additional 1,256 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Bio-Rad Laboratories by 4.0% in the 2nd quarter. AQR Capital Management LLC now owns 47,954 shares of the medical research company’s stock valued at $13,091,000 after purchasing an additional 1,864 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $359.43 on Tuesday. Bio-Rad Laboratories, Inc. has a 1-year low of $262.12 and a 1-year high of $387.99. The firm has a market cap of $10.06 billion, a P/E ratio of -13.15 and a beta of 0.90. 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 firm has a 50-day moving average of $337.49 and a 200-day moving average of $333.88.

Bio-Rad Laboratories (NYSE:BIOGet Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.85. The firm had revenue of $649.70 million for 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 business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $2.33 EPS. Sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BIO. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Citigroup lifted their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Bio-Rad Laboratories has an average rating of “Moderate Buy” and a consensus price target of $394.20.

Read Our Latest Stock Report on BIO

Bio-Rad Laboratories Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding BIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bio-Rad Laboratories, Inc. (NYSE:BIOFree Report).

Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

Receive News & Ratings for Bio-Rad Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.