JPMorgan Chase & Co. Sells 4,840 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

JPMorgan Chase & Co. decreased its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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. owned about 0.19% of Bio-Rad Laboratories worth $18,113,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. First Eagle Investment Management LLC lifted its holdings in shares of Bio-Rad Laboratories by 32,296.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock valued at $173,773,000 after acquiring an additional 634,311 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Bio-Rad Laboratories by 95.6% in the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock valued at $14,836,000 after purchasing an additional 21,669 shares during the last quarter. Mawer Investment Management Ltd. boosted its holdings in shares of Bio-Rad Laboratories by 63.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock worth $72,900,000 after purchasing an additional 84,237 shares during the period. Verition Fund Management LLC increased its position in shares of Bio-Rad Laboratories by 193.3% during the 3rd quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock valued at $1,161,000 after purchasing an additional 2,287 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Bio-Rad Laboratories by 341.7% during the 3rd quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the medical research company’s stock valued at $1,773,000 after buying an additional 4,100 shares during the period. Institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BIO. Citigroup increased their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $394.20.

Bio-Rad Laboratories Stock Performance

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

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