Zurcher Kantonalbank Zurich Cantonalbank Cuts Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 74.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,360 shares of the medical research company’s stock after selling 9,767 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bio-Rad Laboratories were worth $1,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. purchased a new position in Bio-Rad Laboratories during the 4th quarter worth $1,590,000. Comerica Bank purchased a new position in Bio-Rad Laboratories during the 3rd quarter worth $11,054,000. IFM Investors Pty Ltd grew its stake in Bio-Rad Laboratories by 5.2% during the 3rd quarter. IFM Investors Pty Ltd now owns 4,057 shares of the medical research company’s stock worth $1,454,000 after buying an additional 200 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its stake in Bio-Rad Laboratories by 6.3% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 312,583 shares of the medical research company’s stock worth $112,046,000 after buying an additional 18,419 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in Bio-Rad Laboratories during the 3rd quarter worth $668,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BIO has been the topic of several research analyst reports. Royal Bank of Canada dropped their target price on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. UBS Group lifted their price target on Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Finally, StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $468.00.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $275.94 on Friday. The stock has a market cap of $7.87 billion, a PE ratio of -12.84 and a beta of 0.87. The business has a 50-day simple moving average of $324.94 and a 200-day simple moving average of $317.24. 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, Inc. has a 52-week low of $261.59 and a 52-week high of $473.50.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.17. The business 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 company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.31 EPS. On average, equities analysts expect that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current year.

Insider Activity

In other news, EVP Michael Crowley sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total value of $1,008,000.00. Following the completion of the transaction, the executive vice president now owns 6,942 shares of the company’s stock, valued at approximately $2,332,512. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.