Sei Investments Co. Sells 4,002 Shares of Bio-Rad Laboratories, Inc. $BIO

Sei Investments Co. decreased its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 287,912 shares of the medical research company’s stock after selling 4,002 shares during the quarter. Sei Investments Co. owned 1.08% of Bio-Rad Laboratories worth $80,261,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of Bio-Rad Laboratories by 25.2% during the 1st quarter. Royal Bank of Canada now owns 30,310 shares of the medical research company’s stock valued at $7,382,000 after acquiring an additional 6,100 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Bio-Rad Laboratories by 45.6% in the first quarter. Goldman Sachs Group Inc. now owns 105,006 shares of the medical research company’s stock worth $25,575,000 after purchasing an additional 32,874 shares during the period. Empowered Funds LLC increased its position in shares of Bio-Rad Laboratories by 14.8% in the first quarter. Empowered Funds LLC now owns 1,547 shares of the medical research company’s stock worth $377,000 after purchasing an additional 199 shares during the period. Jane Street Group LLC raised its stake in Bio-Rad Laboratories by 95.3% in the first quarter. Jane Street Group LLC now owns 37,383 shares of the medical research company’s stock valued at $9,105,000 after purchasing an additional 18,239 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Bio-Rad Laboratories by 13.5% in the second quarter. Cetera Investment Advisers now owns 2,192 shares of the medical research company’s stock valued at $529,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BIO shares. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their target price for the company from $375.00 to $300.00 in a report on Tuesday, April 7th. Zacks Research downgraded shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Royal Bank Of Canada started coverage on shares of Bio-Rad Laboratories in a research report on Friday, May 15th. They set an “outperform” rating and a $320.00 price target on the stock. Weiss Ratings cut shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $303.33.

Bio-Rad Laboratories Trading Down 0.8%

BIO opened at $313.78 on Friday. The company’s 50 day moving average is $295.31 and its 200-day moving average is $287.75. Bio-Rad Laboratories, Inc. has a 1-year low of $236.73 and a 1-year high of $343.12. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12. The company has a market cap of $8.40 billion, a P/E ratio of 51.69 and a beta of 1.08.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $592.10 million for the quarter, compared to analyst estimates of $589.91 million. During the same quarter last year, the company posted $2.54 earnings per share. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current fiscal year.

About Bio-Rad Laboratories

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.