Bank of New York Mellon Corp Decreases Stock Position in Bio-Rad Laboratories, Inc. $BIO

Bank of New York Mellon Corp decreased its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 33.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 135,813 shares of the medical research company’s stock after selling 67,000 shares during the period. Bank of New York Mellon Corp’s holdings in Bio-Rad Laboratories were worth $32,774,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Bio-Rad Laboratories by 17.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 877,040 shares of the medical research company’s stock worth $213,608,000 after purchasing an additional 130,921 shares in the last quarter. Ariel Investments LLC raised its holdings in shares of Bio-Rad Laboratories by 29.3% in the first quarter. Ariel Investments LLC now owns 724,660 shares of the medical research company’s stock worth $176,498,000 after buying an additional 164,136 shares during the last quarter. First Pacific Advisors LP lifted its stake in shares of Bio-Rad Laboratories by 3.9% during the second quarter. First Pacific Advisors LP now owns 386,949 shares of the medical research company’s stock worth $93,379,000 after buying an additional 14,394 shares during the period. Parnassus Investments LLC grew its holdings in shares of Bio-Rad Laboratories by 2.3% during the first quarter. Parnassus Investments LLC now owns 318,111 shares of the medical research company’s stock valued at $77,479,000 after buying an additional 7,244 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its holdings in shares of Bio-Rad Laboratories by 14.8% during the first quarter. Mawer Investment Management Ltd. now owns 294,879 shares of the medical research company’s stock valued at $71,821,000 after buying an additional 37,952 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BIO shares. Weiss Ratings upgraded Bio-Rad Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 30th. Citigroup raised their price objective on Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Royal Bank Of Canada upped their target price on Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Zacks Research upgraded shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Finally, Wells Fargo & Company raised their price target on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $358.50.

Insider Activity

In related news, EVP James Barry sold 700 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $306.18, for a total transaction of $214,326.00. Following the sale, the executive vice president directly owned 510 shares of the company’s stock, valued at approximately $156,151.80. This represents a 57.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 17.06% of the stock is currently owned by corporate insiders.

Bio-Rad Laboratories Stock Down 3.0%

Shares of BIO opened at $317.32 on Friday. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of -13.05 and a beta of 1.04. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $373.69. The stock’s 50-day moving average price is $301.99 and its 200-day moving average price is $269.39. The company has a quick ratio of 3.67, a current ratio of 5.12 and a debt-to-equity ratio of 0.17.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Wednesday, October 29th. The medical research company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.04). Bio-Rad Laboratories had a negative net margin of 26.43% and a positive return on equity of 4.18%. The company had revenue of $653.00 million during the quarter, compared to analyst estimates of $651.30 million. During the same period in the previous year, the firm posted $2.01 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

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.