Zacks Investment Management Sells 988 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Zacks Investment Management lessened its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 61.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 632 shares of the medical research company’s stock after selling 988 shares during the period. Zacks Investment Management’s holdings in Bio-Rad Laboratories were worth $208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Bio-Rad Laboratories by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,919,808 shares of the medical research company’s stock worth $630,676,000 after acquiring an additional 12,168 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $342,686,000. Sei Investments Co. increased its holdings in shares of Bio-Rad Laboratories by 7.5% in the fourth quarter. Sei Investments Co. now owns 271,387 shares of the medical research company’s stock valued at $89,156,000 after purchasing an additional 18,873 shares in the last quarter. Mawer Investment Management Ltd. raised its position in Bio-Rad Laboratories by 17.9% in the 4th quarter. Mawer Investment Management Ltd. now owns 256,927 shares of the medical research company’s stock worth $84,403,000 after purchasing an additional 39,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Bio-Rad Laboratories by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 191,867 shares of the medical research company’s stock worth $63,030,000 after buying an additional 7,552 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Trading Down 2.9 %

NYSE BIO opened at $238.02 on Monday. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 12 month low of $215.38 and a 12 month high of $387.99. The company has a market capitalization of $6.67 billion, a PE ratio of -3.66 and a beta of 1.12. The stock has a 50-day simple moving average of $255.62 and a 200 day simple moving average of $311.42.

Bio-Rad Laboratories (NYSE:BIO) last announced 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 forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on BIO. Royal Bank of Canada reissued an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Wells Fargo & Company reduced their target price on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $380.20.

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.