Zacks Investment Research downgraded shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) from a hold rating to a sell rating in a research note issued to investors on Thursday.
According to Zacks, “Bio-Rad Laboratories, Inc., together with its subsidiaries, engages in the manufacture and supply of products and systems for the life science research, healthcare, analytical chemistry, and other markets worldwide. The company’s products are used to separate complex chemical and biological materials, and to identify, analyze, and purify their components. It operates in two segments, Life Science and Clinical Diagnostics. The Life Science segment offers electrophoresis, image analysis, molecular detection, chromatography, gene transfer, sample preparation, and amplification products and services. The Clinical Diagnostics segment provides control, autoimmune, diabetes, and blood virus testing products. Bio-Rad is renowned worldwide among hospitals, universities, major research institutions, as well as biotechnology and pharmaceutical companies for its commitment to quality and customer service. The company is headquartered in Hercules, California. “
BIO has been the topic of several other reports. Deutsche Bank AG reissued a buy rating and issued a $255.00 price objective on shares of Bio-Rad Laboratories in a research report on Monday, September 18th. Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a research report on Thursday, July 13th. They issued an outperform rating and a $250.00 price objective on the stock. TheStreet lowered shares of Bio-Rad Laboratories from a b rating to a c+ rating in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a buy rating and issued a $275.00 price objective on shares of Bio-Rad Laboratories in a research report on Friday, July 14th. Finally, BidaskClub raised shares of Bio-Rad Laboratories from a hold rating to a buy rating in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Bio-Rad Laboratories has a consensus rating of Buy and an average price target of $260.00.
Bio-Rad Laboratories (NYSE BIO) traded down 0.35% on Thursday, reaching $223.11. 73,575 shares of the company were exchanged. The firm has a market capitalization of $6.61 billion, a PE ratio of 440.93 and a beta of 0.91. Bio-Rad Laboratories has a 12-month low of $154.89 and a 12-month high of $242.79. The stock has a 50 day moving average of $222.39 and a 200 day moving average of $220.85.
In other news, EVP Michael Crowley sold 700 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $215.91, for a total value of $151,137.00. Following the transaction, the executive vice president now directly owns 2,060 shares of the company’s stock, valued at $444,774.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 28.29% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in shares of Bio-Rad Laboratories in the second quarter valued at about $113,000. Pacad Investment Ltd. bought a new position in shares of Bio-Rad Laboratories in the second quarter valued at about $113,000. Turner Investments LLC bought a new position in shares of Bio-Rad Laboratories in the second quarter valued at about $136,000. Capital Analysts LLC bought a new position in shares of Bio-Rad Laboratories in the second quarter valued at about $170,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bio-Rad Laboratories by 12.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 815 shares of the medical research company’s stock valued at $184,000 after purchasing an additional 90 shares during the period. 62.84% of the stock is currently owned by institutional investors.
About Bio-Rad Laboratories
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.
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