Kornitzer Capital Management Inc. KS Lowers Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Kornitzer Capital Management Inc. KS lowered its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,647 shares of the medical research company’s stock after selling 4,048 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Bio-Rad Laboratories were worth $11,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

BIO has been the topic of several recent analyst reports. Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $400.00 to $365.00 in a research report on Wednesday, April 3rd. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Royal Bank of Canada reduced their price target on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Finally, UBS Group boosted their price target on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $468.00.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the transaction, the executive vice president now owns 6,942 shares in the company, valued at $2,332,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Trading Down 0.5 %

BIO stock traded down $1.29 during mid-day trading on Friday, reaching $279.73. 294,125 shares of the stock traded hands, compared to its average volume of 190,036. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.34 and a current ratio of 5.83. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $473.76. The stock has a market capitalization of $7.98 billion, a PE ratio of -13.02 and a beta of 0.87. The business has a 50-day moving average price of $329.85 and a two-hundred day moving average price of $320.23.

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