Federated Hermes Inc. Has $25.67 Million Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Federated Hermes Inc. boosted its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 28.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,490 shares of the medical research company’s stock after purchasing an additional 17,762 shares during the quarter. Federated Hermes Inc. owned 0.27% of Bio-Rad Laboratories worth $25,667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BIO. Vanguard Group Inc. raised its position in shares of Bio-Rad Laboratories by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,317,941 shares of the medical research company’s stock valued at $1,305,534,000 after buying an additional 30,476 shares in the last quarter. BlackRock Inc. raised its position in shares of Bio-Rad Laboratories by 1.0% in the 1st quarter. BlackRock Inc. now owns 1,598,604 shares of the medical research company’s stock valued at $765,763,000 after buying an additional 16,216 shares in the last quarter. State Street Corp raised its position in shares of Bio-Rad Laboratories by 0.3% in the 3rd quarter. State Street Corp now owns 958,704 shares of the medical research company’s stock valued at $399,914,000 after buying an additional 2,869 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Bio-Rad Laboratories by 3.1% in the 3rd quarter. Brown Advisory Inc. now owns 955,732 shares of the medical research company’s stock valued at $342,582,000 after buying an additional 28,724 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Bio-Rad Laboratories by 12.6% in the 1st quarter. Bank of America Corp DE now owns 460,215 shares of the medical research company’s stock valued at $220,452,000 after buying an additional 51,419 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Down 0.5 %

BIO opened at $279.73 on Monday. Bio-Rad Laboratories, Inc. has a fifty-two week low of $261.59 and a fifty-two week high of $473.76. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.83 and a quick ratio of 4.34. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of -13.02 and a beta of 0.87. The company’s 50 day moving average price is $329.85 and its two-hundred day moving average price is $319.77.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, February 15th. The medical research company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.17. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The firm had revenue of $681.18 million for the quarter, compared to analyst estimates of $685.00 million. During the same period in the previous year, the firm posted $3.31 EPS. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, research analysts predict that Bio-Rad Laboratories, Inc. will post 10.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total value of $1,008,000.00. Following the sale, the executive vice president now directly owns 6,942 shares of the company’s stock, valued at approximately $2,332,512. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 17.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BIO. UBS Group upped their price objective on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $468.00.

Bio-Rad Laboratories Company 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.