Schonfeld Strategic Advisors LLC Lowers Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)
Schonfeld Strategic Advisors LLC lowered its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 76.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,008 shares of the medical research company’s stock after selling 166,802 shares during the quarter. Schonfeld Strategic Advisors LLC owned approximately 0.18% of Bio-Rad Laboratories worth $19,338,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of BIO. Vanguard Group Inc. raised its holdings in shares of Bio-Rad Laboratories by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,317,941 shares of the medical research company’s stock valued at $1,305,534,000 after acquiring an additional 30,476 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Bio-Rad Laboratories by 1.0% during the first quarter. BlackRock Inc. now owns 1,598,604 shares of the medical research company’s stock valued at $765,763,000 after acquiring an additional 16,216 shares during the last quarter. State Street Corp raised its holdings in shares of Bio-Rad Laboratories by 0.3% during the third quarter. State Street Corp now owns 958,704 shares of the medical research company’s stock valued at $399,914,000 after acquiring an additional 2,869 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Bio-Rad Laboratories by 9.5% during the second quarter. Brown Advisory Inc. now owns 927,008 shares of the medical research company’s stock valued at $351,447,000 after acquiring an additional 80,607 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Bio-Rad Laboratories by 12.6% in the first quarter. Bank of America Corp DE now owns 460,215 shares of the medical research company’s stock valued at $220,452,000 after purchasing an additional 51,419 shares during the last quarter. Hedge funds and other institutional investors own 63.98% of the company’s stock.
Insider Transactions at Bio-Rad Laboratories
In other news, EVP Michael Crowley sold 642 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $305.10, for a total transaction of $195,874.20. Following the completion of the transaction, the executive vice president now directly owns 6,942 shares in the company, valued at $2,118,004.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 17.06% of the company’s stock.
Analyst Ratings Changes
Several research firms recently commented on BIO. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, October 30th. UBS Group began coverage on Bio-Rad Laboratories in a report on Thursday. They issued a “buy” rating and a $395.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $498.50.
View Our Latest Research Report on Bio-Rad Laboratories
Bio-Rad Laboratories Price Performance
BIO stock opened at $304.13 on Friday. The business has a fifty day moving average of $314.36 and a two-hundred day moving average of $358.44. The company has a quick ratio of 4.25, a current ratio of 5.64 and a debt-to-equity ratio of 0.14. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of -51.99 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 52-week low of $261.59 and a 52-week high of $509.62.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last posted its earnings results on Thursday, October 26th. The medical research company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.54). The business had revenue of $632.10 million for the quarter, compared to analyst estimates of $689.50 million. Bio-Rad Laboratories had a positive return on equity of 3.91% and a negative net margin of 5.86%. Bio-Rad Laboratories’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the business earned $2.60 EPS. As a group, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 11.6 earnings per share for the current year.
Bio-Rad Laboratories Company Profile (Free Report)
Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Bio-Rad Laboratories, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Bio-Rad Laboratories wasn’t on the list.
While Bio-Rad Laboratories currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s list of the 10 best stocks to own in 2024 and why they should be in your portfolio.