Geode Capital Management LLC Sells 11,888 Shares of Bio-Rad Laboratories, Inc. $BIO

Geode Capital Management LLC trimmed its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,328 shares of the medical research company’s stock after selling 11,888 shares during the period. Geode Capital Management LLC’s holdings in Bio-Rad Laboratories were worth $102,531,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Danske Bank A S bought a new position in shares of Bio-Rad Laboratories in the 4th quarter worth $30,000. Geneos Wealth Management Inc. grew its stake in Bio-Rad Laboratories by 115.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after buying an additional 76 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Bio-Rad Laboratories by 76.9% during the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock worth $56,000 after buying an additional 80 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in Bio-Rad Laboratories during the 4th quarter worth $61,000. Finally, Hantz Financial Services Inc. grew its stake in Bio-Rad Laboratories by 457.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 223 shares of the medical research company’s stock worth $63,000 after buying an additional 183 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $294.01 on Friday. The stock has a 50-day moving average of $282.12 and a two-hundred day moving average of $291.70. Bio-Rad Laboratories, Inc. has a one year low of $219.42 and a one year high of $343.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.37 and a current ratio of 3.21. The stock has a market cap of $7.87 billion, a P/E ratio of 48.44 and a beta of 1.08.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The firm had revenue of $592.10 million for the quarter, compared to analyst estimates of $589.91 million. During the same period in the prior year, the firm posted $2.54 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. As a group, research analysts predict that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Weiss Ratings downgraded Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada assumed coverage on Bio-Rad Laboratories in a research note on Friday, May 15th. They set an “outperform” rating and a $320.00 target price on the stock. Wells Fargo & Company dropped their target price on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Wall Street Zen downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $375.00 to $300.00 in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $303.33.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.