Bank of Montreal Can Lowers Position in Bio-Rad Laboratories, Inc. (BIO)

Bank of Montreal Can trimmed its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 18.1% in the first quarter, HoldingsChannel reports. The firm owned 9,708 shares of the medical research company’s stock after selling 2,150 shares during the quarter. Bank of Montreal Can’s holdings in Bio-Rad Laboratories were worth $2,967,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Citizens Bank & Trust Co. increased its stake in Bio-Rad Laboratories by 38.0% during the 1st quarter. First Citizens Bank & Trust Co. now owns 1,720 shares of the medical research company’s stock worth $526,000 after purchasing an additional 474 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in Bio-Rad Laboratories by 2.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 25,212 shares of the medical research company’s stock worth $5,855,000 after purchasing an additional 573 shares in the last quarter. Vanguard Group Inc increased its stake in Bio-Rad Laboratories by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 1,832,968 shares of the medical research company’s stock worth $573,701,000 after purchasing an additional 35,261 shares in the last quarter. Avalon Advisors LLC bought a new stake in Bio-Rad Laboratories during the 1st quarter worth approximately $3,395,000. Finally, Westfield Capital Management Co. LP increased its stake in Bio-Rad Laboratories by 8.4% during the 4th quarter. Westfield Capital Management Co. LP now owns 376,018 shares of the medical research company’s stock worth $87,319,000 after purchasing an additional 29,265 shares in the last quarter. 64.30% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on BIO shares. Barclays increased their target price on Bio-Rad Laboratories from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Deutsche Bank increased their target price on Bio-Rad Laboratories from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. ValuEngine raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Zacks Investment Research raised Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research note on Friday, February 22nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Bio-Rad Laboratories has an average rating of “Buy” and a consensus price target of $365.00.

Shares of BIO opened at $294.35 on Thursday. The company has a market cap of $8.66 billion, a PE ratio of 50.40, a price-to-earnings-growth ratio of 2.76 and a beta of 1.23. Bio-Rad Laboratories, Inc. has a twelve month low of $220.05 and a twelve month high of $345.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.57 and a quick ratio of 3.24.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Wednesday, May 8th. The medical research company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.53. The company had revenue of $553.98 million during the quarter, compared to analysts’ expectations of $548.82 million. Bio-Rad Laboratories had a net margin of 24.84% and a return on equity of 4.15%. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 7.15 EPS for the current fiscal year.

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Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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