The Manufacturers Life Insurance Company Sells 22,854 Shares of Bio-Rad Laboratories, Inc. $BIO

The Manufacturers Life Insurance Company lessened its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 18.6% in the 1st quarter, Holdings Channel reports. The firm owned 99,720 shares of the medical research company’s stock after selling 22,854 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Bio-Rad Laboratories were worth $27,797,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Hollencrest Capital Management bought a new position in Bio-Rad Laboratories during the first quarter valued at about $28,000. Danske Bank A S bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth about $30,000. Geneos Wealth Management Inc. boosted its stake in shares of 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 acquiring an additional 76 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at about $47,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Bio-Rad Laboratories by 76.9% in the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock valued at $56,000 after acquiring an additional 80 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $325.48 on Friday. Bio-Rad Laboratories, Inc. has a twelve month low of $236.73 and a twelve month 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 capitalization of $8.71 billion, a PE ratio of 53.62 and a beta of 1.08. The stock has a 50-day simple moving average of $299.36 and a 200 day simple moving average of $287.85.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). The business had revenue of $592.10 million during the quarter, compared to analyst estimates of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $2.54 EPS. Research analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.14 EPS for the current year.

Wall Street Analyst Weigh In

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