Mn Services Vermogensbeheer B.V. Sells 600 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Mn Services Vermogensbeheer B.V. trimmed its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 7.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,700 shares of the medical research company’s stock after selling 600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Bio-Rad Laboratories were worth $1,875,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Empowered Funds LLC purchased a new stake in Bio-Rad Laboratories during the fourth quarter valued at $443,000. Rhumbline Advisers increased its position in Bio-Rad Laboratories by 0.5% during the fourth quarter. Rhumbline Advisers now owns 54,500 shares of the medical research company’s stock valued at $17,904,000 after acquiring an additional 264 shares during the last quarter. Principal Securities Inc. increased its position in Bio-Rad Laboratories by 1,501.1% during the fourth quarter. Principal Securities Inc. now owns 2,994 shares of the medical research company’s stock valued at $984,000 after acquiring an additional 2,807 shares during the last quarter. CIBC Asset Management Inc increased its position in Bio-Rad Laboratories by 5.0% during the fourth quarter. CIBC Asset Management Inc now owns 713 shares of the medical research company’s stock valued at $234,000 after acquiring an additional 34 shares during the last quarter. Finally, Truist Financial Corp increased its position in Bio-Rad Laboratories by 0.8% during the fourth quarter. Truist Financial Corp now owns 9,186 shares of the medical research company’s stock valued at $3,018,000 after acquiring an additional 72 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on BIO shares. Citigroup reduced their price target on Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Royal Bank Of Canada reduced their price target on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday, June 8th. Wells Fargo & Company reduced their price target on Bio-Rad Laboratories from $260.00 to $245.00 and set an “equal weight” rating for the company in a research report on Monday, June 9th. Finally, UBS Group cut their target price on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $324.25.

Bio-Rad Laboratories Stock Down 0.5%

Bio-Rad Laboratories stock opened at $230.61 on Wednesday. The business has a fifty day moving average price of $236.26 and a 200-day moving average price of $280.21. Bio-Rad Laboratories, Inc. has a 1-year low of $211.43 and a 1-year high of $387.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.99 and a quick ratio of 4.43. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of -3.03 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.81. The business had revenue of $585.40 million during the quarter, compared to analysts’ expectations of $573.01 million. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.30 EPS. Equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

About Bio-Rad Laboratories

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.