People s United Financial Inc. Reduces Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

People s United Financial Inc. cut its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIOGet Rating) by 43.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,282 shares of the medical research company’s stock after selling 2,554 shares during the period. People s United Financial Inc.’s holdings in Bio-Rad Laboratories were worth $2,480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AlphaCrest Capital Management LLC increased its holdings in Bio-Rad Laboratories by 836.1% in the fourth quarter. AlphaCrest Capital Management LLC now owns 2,696 shares of the medical research company’s stock valued at $2,037,000 after buying an additional 2,408 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Bio-Rad Laboratories by 20.0% during the third quarter. HighTower Advisors LLC now owns 3,062 shares of the medical research company’s stock worth $2,265,000 after buying an additional 511 shares during the last quarter. Hancock Whitney Corp lifted its position in Bio-Rad Laboratories by 1.7% in the fourth quarter. Hancock Whitney Corp now owns 13,292 shares of the medical research company’s stock valued at $10,043,000 after purchasing an additional 222 shares during the period. Globeflex Capital L P acquired a new stake in Bio-Rad Laboratories in the fourth quarter valued at about $178,000. Finally, Candriam Luxembourg S.C.A. lifted its position in Bio-Rad Laboratories by 31.7% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 59,038 shares of the medical research company’s stock valued at $44,608,000 after purchasing an additional 14,195 shares during the period. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Shares of BIO stock opened at $518.73 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.16 and a current ratio of 5.10. Bio-Rad Laboratories, Inc. has a one year low of $468.86 and a one year high of $832.70. The company’s 50-day simple moving average is $541.17 and its 200-day simple moving average is $624.33. The stock has a market capitalization of $15.53 billion, a price-to-earnings ratio of -106.30 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIOGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The medical research company reported $4.94 EPS for the quarter, beating the consensus estimate of $2.80 by $2.14. Bio-Rad Laboratories had a negative net margin of 3.49% and a positive return on equity of 3.66%. The company had revenue of $700.10 million for the quarter, compared to analyst estimates of $678.00 million. During the same quarter last year, the business earned $5.21 earnings per share. Bio-Rad Laboratories’s revenue was down 3.7% compared to the same quarter last year. As a group, research analysts forecast that Bio-Rad Laboratories, Inc. will post 14.2 EPS for the current year.

A number of equities research analysts have recently issued reports on the stock. TheStreet downgraded shares of Bio-Rad Laboratories from a “b-” rating to a “c+” rating in a research report on Thursday, April 28th. StockNews.com assumed coverage on Bio-Rad Laboratories in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup reduced their target price on Bio-Rad Laboratories from $800.00 to $750.00 in a research note on Monday, May 2nd. Zacks Investment Research raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating and set a $526.00 target price on the stock in a research note on Wednesday, May 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $700.00 price target on shares of Bio-Rad Laboratories in a report on Friday, April 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $726.50.

Bio-Rad Laboratories Profile (Get Rating)

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 a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.

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

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