Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC lowered its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 957 shares of the medical research company’s stock after selling 280 shares during the quarter. Avior Wealth Management LLC’s holdings in Bio-Rad Laboratories were worth $309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mackenzie Financial Corp increased its position in Bio-Rad Laboratories by 47.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,376 shares of the medical research company’s stock worth $444,000 after purchasing an additional 444 shares in the last quarter. Vontobel Holding Ltd. increased its position in Bio-Rad Laboratories by 24.4% during the 4th quarter. Vontobel Holding Ltd. now owns 4,043 shares of the medical research company’s stock worth $1,305,000 after purchasing an additional 792 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $1,590,000. Louisiana State Employees Retirement System acquired a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $420,000. Finally, Cerity Partners LLC acquired a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $288,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on BIO shares. Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. UBS Group upped their price target on Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Royal Bank of Canada decreased their price target on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $468.00.

Bio-Rad Laboratories Stock Down 0.5 %

NYSE BIO opened at $279.73 on Friday. The stock has a market cap of $7.98 billion, a PE ratio of -13.02 and a beta of 0.87. Bio-Rad Laboratories, Inc. has a fifty-two week low of $261.59 and a fifty-two week high of $473.76. The business has a 50 day moving average price of $329.85 and a two-hundred day moving average price of $320.23. The company has a quick ratio of 4.34, a current ratio of 5.83 and a debt-to-equity ratio of 0.14.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, February 15th. The medical research company reported $3.10 EPS for the quarter, beating the consensus estimate of $2.93 by $0.17. The company 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 was down 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.31 EPS. As a group, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michael Crowley sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 6,942 shares in the company, valued at approximately $2,332,512. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 17.06% of the company’s stock.

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.