Bio-Rad Laboratories (NYSE:BIO) Shares Down 4.2% – Here’s What Happened

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) fell 4.2% during trading on Monday . The stock traded as low as $325.75 and last traded at $327.90. 20,482 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 150,614 shares. The stock had previously closed at $342.13.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Citigroup raised their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $394.20.

Bio-Rad Laboratories Stock Down 3.7 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. The firm’s 50 day moving average price is $340.56 and its two-hundred day moving average price is $336.91. The company has a market cap of $8.81 billion, a P/E ratio of -11.52 and a beta of 0.90.

Institutional Investors Weigh In On Bio-Rad Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Bio-Rad Laboratories by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,919,808 shares of the medical research company’s stock valued at $630,676,000 after buying an additional 12,168 shares during the period. Van ECK Associates Corp increased its stake in Bio-Rad Laboratories by 97.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock valued at $436,861,000 after purchasing an additional 644,530 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in Bio-Rad Laboratories during the fourth quarter worth $342,686,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Bio-Rad Laboratories by 1.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 441,098 shares of the medical research company’s stock valued at $147,583,000 after buying an additional 4,260 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Bio-Rad Laboratories by 7.5% during the fourth quarter. Sei Investments Co. now owns 271,387 shares of the medical research company’s stock valued at $89,156,000 after buying an additional 18,873 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

About Bio-Rad Laboratories

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.