Hermes Investment Management Ltd. Sells 13,339 Shares of Bio-Rad Laboratories, Inc. (BIO)

Hermes Investment Management Ltd. cut its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 4.3% during the first quarter, Holdings Channel reports. The firm owned 298,373 shares of the medical research company’s stock after selling 13,339 shares during the period. Hermes Investment Management Ltd. owned approximately 1.01% of Bio-Rad Laboratories worth $59,478,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Morgan Stanley raised its stake in Bio-Rad Laboratories by 189.2% in the third quarter. Morgan Stanley now owns 458,276 shares of the medical research company’s stock worth $75,070,000 after buying an additional 299,804 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Bio-Rad Laboratories during the third quarter worth $48,656,000. Russell Investments Group Ltd. bought a new stake in Bio-Rad Laboratories during the fourth quarter worth $36,844,000. FMR LLC bought a new stake in Bio-Rad Laboratories during the fourth quarter worth $30,186,000. Finally, Norges Bank bought a new stake in Bio-Rad Laboratories during the fourth quarter worth $26,219,000. 64.29% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

Bio-Rad Laboratories, Inc. (NYSE:BIO) traded down 0.12% on Friday, reaching $210.84. The company’s stock had a trading volume of 79,868 shares. Bio-Rad Laboratories, Inc. has a one year low of $135.94 and a one year high of $211.66. The company has a market capitalization of $6.24 billion, a PE ratio of 221.94 and a beta of 0.89. The firm has a 50-day moving average of $200.40 and a 200-day moving average of $183.55.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, February 23rd. The medical research company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of $1.03 by $1.73. The business earned $571.45 million during the quarter, compared to the consensus estimate of $574.40 million. Bio-Rad Laboratories had a return on equity of 3.79% and a net margin of 4.75%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $1.68 EPS. Analysts predict that Bio-Rad Laboratories, Inc. will post $2.80 EPS for the current year.

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BIO has been the subject of a number of recent research reports. Zacks Investment Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Monday, March 27th. Deutsche Bank AG reaffirmed a “hold” rating and set a $195.00 price target on shares of Bio-Rad Laboratories in a research report on Wednesday, January 18th. Finally, Jefferies Group LLC upped their price target on Bio-Rad Laboratories from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, March 14th.

In related news, EVP Michael Crowley sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $196.13, for a total value of $58,839.00. Following the completion of the transaction, the executive vice president now owns 2,760 shares of the company’s stock, valued at $541,318.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.38% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.

5 Day Chart for NYSE:BIO

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