JPMorgan Chase & Co. Cuts Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

JPMorgan Chase & Co. cut its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 8.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,136 shares of the medical research company’s stock after selling 4,840 shares during the quarter. JPMorgan Chase & Co.’s holdings in Bio-Rad Laboratories were worth $18,113,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BIO. UMB Bank n.a. boosted its stake in Bio-Rad Laboratories by 140.6% in the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 45 shares in the last quarter. Gladius Capital Management LP acquired a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth $32,000. Headlands Technologies LLC acquired a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth $51,000. Point72 Hong Kong Ltd purchased a new position in Bio-Rad Laboratories during the 3rd quarter worth $55,000. Finally, Quarry LP acquired a new position in Bio-Rad Laboratories during the 2nd quarter valued at about $59,000. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $344.52 on Friday. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99. The company’s 50 day moving average is $339.69 and its 200 day moving average is $326.93. The company has a market cap of $9.65 billion, a PE ratio of -12.61 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The firm had revenue of $649.70 million during the quarter, compared to analysts’ expectations of $628.18 million. During the same quarter last year, the company posted $2.33 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BIO shares. Royal Bank of Canada boosted their price target on Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Bio-Rad Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $394.20.

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.