Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 267,306 shares of the medical research company’s stock after selling 2,041 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bio-Rad Laboratories were worth $87,813,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in BIO. Blackhawk Capital Partners LLC. grew its holdings in shares of Bio-Rad Laboratories by 190.5% during the 4th quarter. Blackhawk Capital Partners LLC. now owns 2,176 shares of the medical research company’s stock worth $715,000 after purchasing an additional 1,427 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Bio-Rad Laboratories by 52.6% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 3,480 shares of the medical research company’s stock worth $1,143,000 after acquiring an additional 1,200 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Bio-Rad Laboratories by 7.6% in the 4th quarter. Handelsbanken Fonder AB now owns 5,672 shares of the medical research company’s stock valued at $1,863,000 after acquiring an additional 400 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Bio-Rad Laboratories by 2.0% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 39,303 shares of the medical research company’s stock valued at $12,911,000 after acquiring an additional 786 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after purchasing an additional 87 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $264.60 on Monday. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of -4.07 and a beta of 0.90. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $327.02 and its two-hundred day moving average is $332.65. Bio-Rad Laboratories, Inc. has a 52-week low of $262.11 and a 52-week high of $387.99.

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

About Bio-Rad Laboratories

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.