Bank of New York Mellon Corp Trims Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Bank of New York Mellon Corp reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 267,306 shares of the medical research company’s stock after selling 2,041 shares during the quarter. Bank of New York Mellon Corp owned 0.95% of Bio-Rad Laboratories worth $87,813,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Creative Planning increased its stake in Bio-Rad Laboratories by 6.0% in the 3rd quarter. Creative Planning now owns 1,632 shares of the medical research company’s stock valued at $546,000 after buying an additional 93 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Bio-Rad Laboratories by 58.5% during the third quarter. Nisa Investment Advisors LLC now owns 872 shares of the medical research company’s stock worth $292,000 after acquiring an additional 322 shares during the period. New York State Teachers Retirement System raised its holdings in Bio-Rad Laboratories by 7.1% during the third quarter. New York State Teachers Retirement System now owns 17,300 shares of the medical research company’s stock worth $5,788,000 after purchasing an additional 1,142 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new stake in Bio-Rad Laboratories in the third quarter valued at about $277,000. Finally, Harbor Capital Advisors Inc. lifted its position in Bio-Rad Laboratories by 104.8% in the third quarter. Harbor Capital Advisors Inc. now owns 7,503 shares of the medical research company’s stock valued at $2,510,000 after purchasing an additional 3,840 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Down 0.4 %

Bio-Rad Laboratories stock opened at $264.60 on Monday. The stock has a market cap of $7.41 billion, a PE ratio of -4.07 and a beta of 0.90. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $327.02 and a 200 day moving average price of $332.65. Bio-Rad Laboratories, Inc. has a 52 week low of $262.11 and a 52 week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BIO shares. Royal Bank of Canada reissued an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Wells Fargo & Company cut their price objective on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Finally, StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $395.20.

Bio-Rad Laboratories 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.