Sei Investments Co. Has $80.26 Million Stock Holdings in Bio-Rad Laboratories, Inc. $BIO

Sei Investments Co. trimmed its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287,912 shares of the medical research company’s stock after selling 4,002 shares during the quarter. Sei Investments Co.’s holdings in Bio-Rad Laboratories were worth $80,261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Bio-Rad Laboratories by 4,534.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock valued at $120,956,000 after acquiring an additional 390,593 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Bio-Rad Laboratories by 2,271.3% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 397,171 shares of the medical research company’s stock worth $111,363,000 after purchasing an additional 380,422 shares during the last quarter. Boston Partners bought a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth $75,037,000. Assenagon Asset Management S.A. grew its stake in shares of Bio-Rad Laboratories by 6,586.3% in the first quarter. Assenagon Asset Management S.A. now owns 147,834 shares of the medical research company’s stock worth $41,209,000 after purchasing an additional 145,623 shares during the last quarter. Finally, Norges Bank acquired a new stake in Bio-Rad Laboratories in the fourth quarter valued at $34,600,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BIO has been the topic of several recent research reports. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their target price for the stock from $375.00 to $300.00 in a report on Tuesday, April 7th. Weiss Ratings downgraded Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada began coverage on Bio-Rad Laboratories in a research note on Friday, May 15th. They issued an “outperform” rating and a $320.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Finally, Zacks Research lowered shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $303.33.

Bio-Rad Laboratories Stock Down 0.8%

Shares of Bio-Rad Laboratories stock opened at $313.78 on Friday. The stock’s 50-day moving average is $295.31 and its 200 day moving average is $287.75. Bio-Rad Laboratories, Inc. has a one year low of $236.73 and a one year high of $343.12. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 51.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.21 and a quick ratio of 2.37.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The business had revenue of $592.10 million during the quarter, compared to the consensus estimate of $589.91 million. During the same quarter in the previous year, the firm posted $2.54 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current year.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.