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

PNC Financial Services Group Inc. lowered its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,502 shares of the medical research company’s stock after selling 253 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bio-Rad Laboratories were worth $2,793,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BIO. Metis Global Partners LLC raised its stake in Bio-Rad Laboratories by 4.4% during the fourth quarter. Metis Global Partners LLC now owns 712 shares of the medical research company’s stock worth $234,000 after acquiring an additional 30 shares during the period. Avior Wealth Management LLC raised its position in shares of Bio-Rad Laboratories by 3.3% during the 3rd quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock worth $334,000 after purchasing an additional 32 shares during the period. UMB Bank n.a. raised its position in shares of Bio-Rad Laboratories by 41.6% during the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock worth $36,000 after purchasing an additional 32 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Bio-Rad Laboratories by 3.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 900 shares of the medical research company’s stock worth $296,000 after purchasing an additional 34 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Bio-Rad Laboratories by 5.0% during the 4th quarter. CIBC Asset Management Inc now owns 713 shares of the medical research company’s stock valued at $234,000 after purchasing an additional 34 shares during the period. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BIO. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Wells Fargo & Company dropped their price objective on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Finally, StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $395.20.

Bio-Rad Laboratories Stock Performance

BIO stock opened at $255.34 on Friday. The company has a 50-day simple moving average of $311.97 and a 200 day simple moving average of $327.95. The company has a market capitalization of $7.15 billion, a P/E ratio of -3.93 and a beta of 0.99. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a fifty-two week low of $244.00 and a fifty-two week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, topping 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%. Sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Bio-Rad Laboratories 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.