Summit Investment Advisors Inc. Lowers Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Summit Investment Advisors Inc. decreased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,857 shares of the medical research company’s stock after selling 71 shares during the period. Summit Investment Advisors Inc.’s holdings in Bio-Rad Laboratories were worth $1,267,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Sagespring Wealth Partners LLC purchased a new position in shares of Bio-Rad Laboratories during the 4th quarter worth $246,000. Sterling Capital Management LLC boosted its stake in Bio-Rad Laboratories by 55.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,144 shares of the medical research company’s stock worth $376,000 after buying an additional 408 shares during the last quarter. CenterBook Partners LP grew its holdings in Bio-Rad Laboratories by 182.5% in the 4th quarter. CenterBook Partners LP now owns 11,819 shares of the medical research company’s stock valued at $3,883,000 after buying an additional 7,635 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at about $5,119,000. Finally, Shelton Capital Management acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth approximately $237,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

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

Bio-Rad Laboratories Trading Up 0.4 %

NYSE:BIO opened at $245.90 on Thursday. The business’s 50-day moving average is $258.93 and its two-hundred day moving average is $313.16. The firm has a market capitalization of $6.89 billion, a PE ratio of -3.78 and a beta of 1.12. Bio-Rad Laboratories, Inc. has a 12 month low of $215.38 and a 12 month high of $387.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, topping the consensus estimate 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 predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

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.