Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Fmr LLC

Fmr LLC trimmed its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 94.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,412 shares of the medical research company’s stock after selling 72,991 shares during the quarter. Fmr LLC’s holdings in Bio-Rad Laboratories were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BIO. Capital Advisors Ltd. LLC lifted its holdings in shares of Bio-Rad Laboratories by 193.8% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after buying an additional 62 shares during the period. UMB Bank n.a. raised its holdings in Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after purchasing an additional 45 shares during the last quarter. Gladius Capital Management LP acquired a new position in Bio-Rad Laboratories during the third quarter worth $32,000. Headlands Technologies LLC acquired a new position in Bio-Rad Laboratories during the second quarter worth $51,000. Finally, Quarry LP acquired a new position in Bio-Rad Laboratories during the second quarter worth $59,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $336.28 on Monday. The company has a market cap of $9.41 billion, a P/E ratio of -12.30 and a beta of 0.90. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories, Inc. has a 52 week low of $262.12 and a 52 week high of $387.99. The business has a fifty day simple moving average of $341.35 and a 200-day simple moving average of $321.29.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. The business had revenue of $649.70 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 earnings per share. Equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on BIO. Wells Fargo & Company began coverage on Bio-Rad Laboratories in a report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price objective for the company. Royal Bank of Canada lifted their price objective on Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Citigroup raised their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $394.20.

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.