Crossmark Global Holdings Inc. Decreases Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Crossmark Global Holdings Inc. reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 31.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 843 shares of the medical research company’s stock after selling 384 shares during the period. Crossmark Global Holdings Inc.’s holdings in Bio-Rad Laboratories were worth $277,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Avior Wealth Management LLC increased its stake in Bio-Rad Laboratories by 3.3% in 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. increased its stake in Bio-Rad Laboratories by 41.6% in 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. Ballentine Partners LLC increased its stake in Bio-Rad Laboratories by 5.2% in the 4th quarter. Ballentine Partners LLC now owns 714 shares of the medical research company’s stock worth $235,000 after purchasing an additional 35 shares during the period. Quarry LP increased its stake in Bio-Rad Laboratories by 38.1% in the 3rd quarter. Quarry LP now owns 297 shares of the medical research company’s stock worth $99,000 after purchasing an additional 82 shares during the period. Finally, Creative Planning increased its stake in Bio-Rad Laboratories by 6.0% in the 3rd quarter. Creative Planning now owns 1,632 shares of the medical research company’s stock worth $546,000 after purchasing an additional 93 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BIO has been the topic of a number of analyst reports. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Finally, Citigroup upped their price objective 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. Based on data from MarketBeat, Bio-Rad Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $394.20.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $359.43 on Tuesday. Bio-Rad Laboratories, Inc. has a fifty-two week low of $262.12 and a fifty-two week high of $387.99. The company has a 50 day simple moving average of $337.49 and a two-hundred day simple moving average of $333.88. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of -13.15 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $649.70 million during the quarter, compared to the consensus estimate of $628.18 million. During the same quarter last year, the firm earned $2.33 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts expect that Bio-Rad Laboratories, Inc. will post 10.33 EPS for the current fiscal year.

Bio-Rad Laboratories Company 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.