Prudential Financial Inc. reduced its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) by 12.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,204 shares of the medical research company's stock after selling 3,786 shares during the quarter. Prudential Financial Inc. owned about 0.09% of Bio-Rad Laboratories worth $10,944,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of BIO. Veritas Asset Management LLP bought a new stake in shares of Bio-Rad Laboratories in the 2nd quarter valued at about $379,547,000. Millennium Management LLC increased its stake in shares of Bio-Rad Laboratories by 19.3% in the 2nd quarter. Millennium Management LLC now owns 379,329 shares of the medical research company's stock valued at $187,768,000 after acquiring an additional 61,424 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Bio-Rad Laboratories by 8.2% in the 2nd quarter. Brown Advisory Inc. now owns 629,845 shares of the medical research company's stock valued at $314,245,000 after acquiring an additional 47,921 shares during the last quarter. Invesco Ltd. increased its stake in shares of Bio-Rad Laboratories by 11.3% in the 1st quarter. Invesco Ltd. now owns 352,100 shares of the medical research company's stock valued at $198,311,000 after acquiring an additional 35,635 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Bio-Rad Laboratories by 15.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 266,705 shares of the medical research company's stock valued at $111,252,000 after acquiring an additional 34,780 shares during the last quarter. 64.35% of the stock is owned by institutional investors.
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Analyst Ratings Changes
Several brokerages recently issued reports on BIO. Royal Bank of Canada began coverage on Bio-Rad Laboratories in a research report on Tuesday, December 6th. They issued an "outperform" rating and a $565.00 price objective for the company. StockNews.com lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, January 18th. Credit Suisse Group decreased their price objective on Bio-Rad Laboratories from $715.00 to $640.00 and set an "outperform" rating for the company in a research report on Friday, October 28th. Finally, TheStreet downgraded Bio-Rad Laboratories from a "c" rating to a "d+" rating in a research report on Thursday, October 27th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Bio-Rad Laboratories has an average rating of "Moderate Buy" and a consensus target price of $651.25.
Bio-Rad Laboratories Trading Up 0.6 %
NYSE BIO opened at $478.96 on Monday. The company has a market cap of $14.28 billion, a PE ratio of -2.37 and a beta of 0.91. The company has a current ratio of 5.50, a quick ratio of 4.30 and a debt-to-equity ratio of 0.14. Bio-Rad Laboratories, Inc. has a 12 month low of $344.63 and a 12 month high of $670.61. The stock has a 50 day moving average of $426.02 and a 200-day moving average of $447.34.
Bio-Rad Laboratories (NYSE:BIO – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The medical research company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. The company had revenue of $680.10 million during the quarter, compared to the consensus estimate of $685.50 million. Bio-Rad Laboratories had a positive return on equity of 4.13% and a negative net margin of 215.16%. The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.71 EPS. On average, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 14.38 EPS for the current fiscal year.
About Bio-Rad Laboratories
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Bio-Rad Laboratories, Inc engages in the development and production of specialty chemicals used in biochemical, pharmaceutical, and other life science research applications. It operates through the Life Sciences and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments.
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