Allspring Global Investments Holdings LLC Has $53.64 Million Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Allspring Global Investments Holdings LLC increased its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,127 shares of the medical research company’s stock after purchasing an additional 17,341 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.57% of Bio-Rad Laboratories worth $53,641,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Comerica Bank acquired a new stake in shares of Bio-Rad Laboratories during the third quarter worth $11,054,000. IFM Investors Pty Ltd grew its stake in shares of Bio-Rad Laboratories by 5.2% during the third quarter. IFM Investors Pty Ltd now owns 4,057 shares of the medical research company’s stock worth $1,454,000 after purchasing an additional 200 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in shares of Bio-Rad Laboratories by 6.3% during the third quarter. Thompson Siegel & Walmsley LLC now owns 312,583 shares of the medical research company’s stock worth $112,046,000 after purchasing an additional 18,419 shares during the period. Caxton Associates LP acquired a new stake in shares of Bio-Rad Laboratories during the third quarter worth $668,000. Finally, Invesco Ltd. grew its stake in Bio-Rad Laboratories by 8.0% in the third quarter. Invesco Ltd. now owns 343,462 shares of the medical research company’s stock valued at $123,114,000 after acquiring an additional 25,562 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIO has been the subject of a number of research analyst reports. UBS Group boosted their target price on Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $400.00 to $365.00 in a report on Wednesday, April 3rd. Royal Bank of Canada dropped their target price on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Finally, StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $468.00.

Insider Activity

In other news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total value of $1,008,000.00. Following the transaction, the executive vice president now owns 6,942 shares of the company’s stock, valued at $2,332,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.50% of the stock is owned by company insiders.

Bio-Rad Laboratories Stock Performance

BIO opened at $331.09 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.34 and a current ratio of 5.83. The business’s 50-day simple moving average is $334.11 and its 200 day simple moving average is $322.92. The firm has a market capitalization of $9.44 billion, a PE ratio of -15.41 and a beta of 0.87. Bio-Rad Laboratories, Inc. has a 52-week low of $261.59 and a 52-week high of $494.05.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.17. The firm had revenue of $681.18 million for the quarter, compared to analyst estimates of $685.00 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.31 earnings per share. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.41 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.