Cibc World Markets Corp Sells 284 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Cibc World Markets Corp reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 24.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 877 shares of the medical research company’s stock after selling 284 shares during the period. Cibc World Markets Corp’s holdings in Bio-Rad Laboratories were worth $288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new position in Bio-Rad Laboratories during the 4th quarter worth approximately $3,561,000. Lecap Asset Management Ltd. acquired a new position in shares of Bio-Rad Laboratories during the fourth quarter worth approximately $510,000. Verition Fund Management LLC lifted its holdings in shares of Bio-Rad Laboratories by 193.3% in the 3rd quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock worth $1,161,000 after purchasing an additional 2,287 shares in the last quarter. Diversified Trust Co acquired a new stake in Bio-Rad Laboratories in the 4th quarter valued at $958,000. Finally, DAVENPORT & Co LLC increased its stake in Bio-Rad Laboratories by 48.8% during the 4th quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company’s stock valued at $27,817,000 after purchasing an additional 27,780 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Up 0.3 %

Shares of BIO stock opened at $257.38 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of -3.96 and a beta of 0.98. Bio-Rad Laboratories, Inc. has a 52-week low of $244.00 and a 52-week high of $387.99. The company has a 50-day simple moving average of $301.32 and a two-hundred day simple moving average of $324.70.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. Research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BIO. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Royal Bank of Canada reissued an “outperform” rating and set a $481.00 price objective on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Finally, Wells Fargo & Company lowered their price objective on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $395.20.

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.