Avantax Advisory Services Inc. Sells 1,365 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Avantax Advisory Services Inc. lowered its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 23.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,336 shares of the medical research company’s stock after selling 1,365 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Bio-Rad Laboratories were worth $1,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BIO. Venturi Wealth Management LLC grew its stake in Bio-Rad Laboratories by 2,175.0% in the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Asset Planning Inc purchased a new stake in Bio-Rad Laboratories during the fourth quarter worth $33,000. UMB Bank n.a. lifted its holdings in Bio-Rad Laboratories by 41.6% during the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock worth $36,000 after buying an additional 32 shares during the period. Cape Investment Advisory Inc. purchased a new stake in Bio-Rad Laboratories during the fourth quarter worth $38,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Bio-Rad Laboratories during the third quarter worth $55,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BIO. Royal Bank of Canada restated an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Wells Fargo & Company decreased their price objective on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $395.20.

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $260.16 on Wednesday. Bio-Rad Laboratories, Inc. has a 12 month low of $244.00 and a 12 month high of $387.99. The stock has a fifty day moving average price of $308.56 and a 200-day moving average price of $326.91. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The firm has a market cap of $7.29 billion, a PE ratio of -4.00 and a beta of 0.98.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal 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.