Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,502 shares of the medical research company’s stock after selling 253 shares during the period. PNC Financial Services Group Inc.’s holdings in Bio-Rad Laboratories were worth $2,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC grew its position in Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Gladius Capital Management LP acquired a new stake in shares of Bio-Rad Laboratories in the third quarter worth $32,000. Asset Planning Inc purchased a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at $33,000. UMB Bank n.a. grew its holdings in shares of Bio-Rad Laboratories by 41.6% during the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock valued at $36,000 after buying an additional 32 shares in the last quarter. Finally, Cape Investment Advisory Inc. acquired a new position in Bio-Rad Laboratories during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 4.2 %

Shares of Bio-Rad Laboratories stock opened at $255.34 on Friday. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of -3.93 and a beta of 0.99. The stock has a 50-day simple moving average of $311.97 and a 200-day simple moving average of $327.95. Bio-Rad Laboratories, Inc. has a 52-week low of $244.00 and a 52-week high of $387.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. On average, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Wells Fargo & Company decreased their price target on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $395.20.

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.