Bio-Rad Laboratories, Inc. (NYSE:BIO) Stock Position Reduced by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 42,106 shares of the medical research company’s stock after selling 1,243 shares during the period. CIBC Private Wealth Group LLC’s holdings in Bio-Rad Laboratories were worth $14,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Glenmede Trust Co. NA acquired a new stake in shares of Bio-Rad Laboratories during the third quarter worth $351,000. MetLife Investment Management LLC grew its position in shares of Bio-Rad Laboratories by 82.6% during the 3rd quarter. MetLife Investment Management LLC now owns 9,900 shares of the medical research company’s stock valued at $3,312,000 after buying an additional 4,478 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Bio-Rad Laboratories by 8.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,332 shares of the medical research company’s stock valued at $2,119,000 after buying an additional 511 shares during the last quarter. PEAK6 Investments LLC acquired a new stake in Bio-Rad Laboratories during the third quarter worth about $956,000. Finally, Verition Fund Management LLC lifted its holdings in Bio-Rad Laboratories by 193.3% in the third quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock worth $1,161,000 after acquiring an additional 2,287 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $244.29 on Tuesday. Bio-Rad Laboratories, Inc. has a 12-month low of $235.84 and a 12-month 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. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of -3.76 and a beta of 0.98. The business has a 50 day simple moving average of $291.56 and a 200 day simple moving average of $321.95.

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

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.