Franklin Resources Inc. Sells 4,102 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Franklin Resources Inc. lessened its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIOGet Rating) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 221,967 shares of the medical research company’s stock after selling 4,102 shares during the period. Franklin Resources Inc. owned approximately 0.75% of Bio-Rad Laboratories worth $109,874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIO. Veritas Asset Management LLP bought a new stake in Bio-Rad Laboratories during the 2nd quarter worth approximately $379,547,000. AustralianSuper Pty Ltd bought a new position in shares of Bio-Rad Laboratories in the 2nd quarter worth $191,846,000. Artemis Investment Management LLP increased its holdings in shares of Bio-Rad Laboratories by 97.6% in the 2nd quarter. Artemis Investment Management LLP now owns 195,787 shares of the medical research company’s stock worth $97,034,000 after buying an additional 96,691 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Bio-Rad Laboratories in the 1st quarter worth $34,864,000. Finally, Prudential Financial Inc. increased its holdings in shares of Bio-Rad Laboratories by 181.0% in the 1st quarter. Prudential Financial Inc. now owns 85,053 shares of the medical research company’s stock worth $47,905,000 after buying an additional 54,789 shares during the last quarter. Institutional investors own 64.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BIO. TheStreet lowered shares of Bio-Rad Laboratories from a “c” rating to a “d+” rating in a report on Thursday, October 27th. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. Finally, Credit Suisse Group reduced their target price on shares of Bio-Rad Laboratories from $715.00 to $640.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $680.00.

Bio-Rad Laboratories Price Performance

BIO stock opened at $403.94 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.30 and a current ratio of 5.50. Bio-Rad Laboratories, Inc. has a 52 week low of $344.63 and a 52 week high of $771.69. The firm’s fifty day moving average is $405.55 and its 200 day moving average is $473.70. The firm has a market cap of $12.05 billion, a P/E ratio of -2.00 and a beta of 0.92.

Bio-Rad Laboratories (NYSE:BIOGet Rating) last released its earnings results on Thursday, October 27th. The medical research company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. Bio-Rad Laboratories had a negative net margin of 215.16% and a positive return on equity of 4.13%. The company had revenue of $680.10 million for the quarter, compared to analyst estimates of $685.50 million. During the same quarter last year, the firm earned $3.71 EPS. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. Research analysts predict that Bio-Rad Laboratories, Inc. will post 14.38 earnings per share for the current year.

Bio-Rad Laboratories Company Profile

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Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.

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

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