Bio-Rad Laboratories, Inc. (NYSE:BIO) Stock Position Reduced by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV cut its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,394 shares of the medical research company’s stock after selling 87 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Bio-Rad Laboratories were worth $792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Nomura Holdings Inc. purchased a new position in Bio-Rad Laboratories during the fourth quarter valued at approximately $1,004,000. Nuveen Asset Management LLC grew its position in Bio-Rad Laboratories by 0.8% during the fourth quarter. Nuveen Asset Management LLC now owns 39,505 shares of the medical research company’s stock valued at $12,978,000 after purchasing an additional 327 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in Bio-Rad Laboratories by 18.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 890 shares of the medical research company’s stock valued at $292,000 after purchasing an additional 138 shares in the last quarter. Gotham Asset Management LLC grew its position in Bio-Rad Laboratories by 21.0% during the fourth quarter. Gotham Asset Management LLC now owns 21,949 shares of the medical research company’s stock valued at $7,210,000 after purchasing an additional 3,805 shares in the last quarter. Finally, Ethic Inc. grew its position in Bio-Rad Laboratories by 48.5% during the fourth quarter. Ethic Inc. now owns 1,598 shares of the medical research company’s stock valued at $525,000 after purchasing an additional 522 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BIO. Royal Bank of Canada lowered their price objective on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Wells Fargo & Company decreased their target price on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. UBS Group decreased their target price on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Citigroup decreased their target price on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $327.40.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock opened at $248.45 on Monday. The firm has a fifty day simple moving average of $243.46 and a 200-day simple moving average of $298.10. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 1-year low of $215.38 and a 1-year high of $387.99. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of -3.82 and a beta of 1.00.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, May 1st. The medical research company reported $2.54 EPS for the quarter, beating the consensus estimate of $1.73 by $0.81. The firm had revenue of $585.40 million during the quarter, compared to analysts’ expectations of $573.01 million. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.30 EPS. On average, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

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.