Allspring Global Investments Holdings LLC Boosts Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Allspring Global Investments Holdings LLC grew its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 11.7% during the 4th quarter, HoldingsChannel reports. The fund owned 166,127 shares of the medical research company’s stock after buying an additional 17,341 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bio-Rad Laboratories were worth $53,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Bio-Rad Laboratories by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,317,941 shares of the medical research company’s stock worth $1,305,534,000 after purchasing an additional 30,476 shares during the period. BlackRock Inc. increased its holdings in shares of Bio-Rad Laboratories by 1.0% in the first quarter. BlackRock Inc. now owns 1,598,604 shares of the medical research company’s stock worth $765,763,000 after purchasing an additional 16,216 shares during the period. State Street Corp increased its holdings in shares of Bio-Rad Laboratories by 0.3% in the third quarter. State Street Corp now owns 958,704 shares of the medical research company’s stock worth $399,914,000 after purchasing an additional 2,869 shares during the period. Brown Advisory Inc. increased its holdings in shares of Bio-Rad Laboratories by 3.1% in the third quarter. Brown Advisory Inc. now owns 955,732 shares of the medical research company’s stock worth $342,582,000 after purchasing an additional 28,724 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Bio-Rad Laboratories by 12.6% in the first quarter. Bank of America Corp DE now owns 460,215 shares of the medical research company’s stock worth $220,452,000 after purchasing an additional 51,419 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Transactions at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total value of $1,008,000.00. Following the completion of the sale, the executive vice president now directly owns 6,942 shares in the company, valued at $2,332,512. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BIO. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their target price for the company from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Royal Bank of Canada reduced their target price on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. UBS Group increased their target price on Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $468.00.

Bio-Rad Laboratories Stock Down 2.5 %

Shares of NYSE:BIO opened at $331.09 on Thursday. The stock’s 50-day moving average price is $334.11 and its 200-day moving average price is $322.92. Bio-Rad Laboratories, Inc. has a 12-month low of $261.59 and a 12-month high of $494.05. The stock has a market capitalization of $9.44 billion, a P/E ratio of -15.41 and a beta of 0.87. The company has a current ratio of 5.83, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.17. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The firm had revenue of $681.18 million for the quarter, compared to analysts’ expectations of $685.00 million. During the same period last year, the firm earned $3.31 earnings per share. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.41 earnings per share for the current 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.