Cibc World Markets Corp Sells 284 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Cibc World Markets Corp lowered its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 24.5% in the 4th quarter, HoldingsChannel reports. The firm owned 877 shares of the medical research company’s stock after selling 284 shares during the quarter. Cibc World Markets Corp’s holdings in Bio-Rad Laboratories were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in shares of Bio-Rad Laboratories by 446.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,498 shares of the medical research company’s stock valued at $1,505,000 after buying an additional 3,675 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Bio-Rad Laboratories during the third quarter valued at about $422,000. PNC Financial Services Group Inc. boosted its position in Bio-Rad Laboratories by 10.0% during the third quarter. PNC Financial Services Group Inc. now owns 8,755 shares of the medical research company’s stock worth $2,929,000 after purchasing an additional 795 shares during the period. Commerce Bank purchased a new position in shares of Bio-Rad Laboratories in the third quarter worth about $240,000. Finally, Cerity Partners LLC raised its position in shares of Bio-Rad Laboratories by 29.3% in the third quarter. Cerity Partners LLC now owns 7,793 shares of the medical research company’s stock valued at $2,607,000 after purchasing an additional 1,767 shares during the period. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

NYSE:BIO opened at $257.38 on Tuesday. Bio-Rad Laboratories, Inc. has a 52-week low of $244.00 and a 52-week high of $387.99. The stock has a fifty day moving average of $301.32 and a 200 day moving average of $324.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of -3.96 and a beta of 0.98.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, topping the consensus estimate 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, research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.