Truist Financial Corp Sells 7,579 Shares of Bio-Rad Laboratories, Inc. $BIO

Truist Financial Corp cut its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 65.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,917 shares of the medical research company’s stock after selling 7,579 shares during the quarter. Truist Financial Corp’s holdings in Bio-Rad Laboratories were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BIO. Quent Capital LLC bought a new stake in Bio-Rad Laboratories during the third quarter valued at approximately $25,000. Danske Bank A S bought a new stake in Bio-Rad Laboratories during the fourth quarter valued at approximately $30,000. Geneos Wealth Management Inc. lifted its holdings in shares of Bio-Rad Laboratories by 115.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after acquiring an additional 76 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Bio-Rad Laboratories by 76.9% in the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock worth $56,000 after acquiring an additional 80 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Bio-Rad Laboratories by 82.0% in the 3rd quarter. CWM LLC now owns 202 shares of the medical research company’s stock worth $57,000 after acquiring an additional 91 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Up 0.6%

Shares of NYSE BIO opened at $247.66 on Friday. The company has a quick ratio of 2.37, a current ratio of 3.21 and a debt-to-equity ratio of 0.12. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $343.12. The firm’s fifty day moving average is $273.25 and its 200 day moving average is $293.61. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 40.80 and a beta of 1.06.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, April 30th. The medical research company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08). Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The firm had revenue of $592.10 million during the quarter, compared to analysts’ expectations of $589.91 million. During the same period in the previous year, the firm earned $2.54 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BIO has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price objective on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Weiss Ratings lowered shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada initiated coverage on shares of Bio-Rad Laboratories in a report on Friday. They issued an “outperform” rating and a $320.00 price objective for the company. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $375.00 to $300.00 in a report on Tuesday, April 7th. Finally, Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $303.33.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.