Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its stake in Bio-Rad Laboratories, Inc. (NYSE:BIOFree Report) by 28.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,509 shares of the medical research company’s stock after selling 3,793 shares during the quarter. Fifth Third Bancorp’s holdings in Bio-Rad Laboratories were worth $3,070,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BIO. Farther Finance Advisors LLC grew its holdings in shares of Bio-Rad Laboratories by 42.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 101 shares of the medical research company’s stock worth $38,000 after acquiring an additional 30 shares during the last quarter. ING Groep NV acquired a new position in shares of Bio-Rad Laboratories in the 3rd quarter worth $44,000. Pacific Center for Financial Services acquired a new position in shares of Bio-Rad Laboratories in the 1st quarter worth $49,000. Atlas Capital Advisors LLC acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter worth $50,000. Finally, Dark Forest Capital Management LP grew its holdings in shares of Bio-Rad Laboratories by 1,160.0% in the 1st quarter. Dark Forest Capital Management LP now owns 126 shares of the medical research company’s stock worth $60,000 after acquiring an additional 116 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Finally, UBS Group lifted their price target on Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a report on Friday, February 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $493.75.

Read Our Latest Stock Report on Bio-Rad Laboratories

Insider Activity at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 3,000 shares of Bio-Rad Laboratories stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the completion of the sale, the executive vice president now owns 6,942 shares of the company’s stock, valued at $2,332,512. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Price Performance

BIO opened at $328.72 on Wednesday. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of -15.30 and a beta of 0.87. Bio-Rad Laboratories, Inc. has a 1 year low of $261.59 and a 1 year high of $494.05. The company has a current ratio of 5.83, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $333.57 and a 200 day moving average price of $324.00.

Bio-Rad Laboratories (NYSE:BIOGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.17. The firm had revenue of $681.18 million during the quarter, compared to analysts’ expectations of $685.00 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.31 earnings per share. Analysts forecast that Bio-Rad Laboratories, Inc. will post 10.57 EPS for the current fiscal year.

Bio-Rad Laboratories Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bio-Rad Laboratories, Inc. (NYSE:BIOFree Report).

Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

Receive News & Ratings for Bio-Rad Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.