Brio Consultants LLC Sells 434 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Brio Consultants LLC cut its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 20.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,739 shares of the medical research company’s stock after selling 434 shares during the period. Brio Consultants LLC’s holdings in Bio-Rad Laboratories were worth $571,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Public Sector Pension Investment Board purchased a new position in Bio-Rad Laboratories during the second quarter worth about $232,000. Mackenzie Financial Corp boosted its stake in shares of Bio-Rad Laboratories by 44.0% in the 2nd quarter. Mackenzie Financial Corp now owns 1,054 shares of the medical research company’s stock worth $288,000 after buying an additional 322 shares during the last quarter. Quarry LP bought a new position in shares of Bio-Rad Laboratories in the second quarter valued at approximately $59,000. Sanctuary Advisors LLC bought a new stake in Bio-Rad Laboratories during the second quarter worth $735,000. Finally, Handelsbanken Fonder AB boosted its position in Bio-Rad Laboratories by 20.6% in the third quarter. Handelsbanken Fonder AB now owns 5,272 shares of the medical research company’s stock worth $1,764,000 after purchasing an additional 900 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BIO has been the subject of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Citigroup raised their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $394.20.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $361.79 on Friday. Bio-Rad Laboratories, Inc. has a 1 year low of $262.12 and a 1 year high of $387.99. The company’s fifty day simple moving average is $340.27 and its two-hundred day simple moving average is $335.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, beating the consensus estimate 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 company had revenue of $649.70 million during the quarter, compared to analysts’ expectations of $628.18 million. During the same quarter in the previous year, the company earned $2.33 earnings per share. Bio-Rad Laboratories’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.33 earnings per share 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.