Kornitzer Capital Management Inc. KS Cuts Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Kornitzer Capital Management Inc. KS lessened its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,647 shares of the medical research company’s stock after selling 4,048 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.13% of Bio-Rad Laboratories worth $11,833,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lecap Asset Management Ltd. purchased a new position in Bio-Rad Laboratories in the 4th quarter worth approximately $1,590,000. Comerica Bank purchased a new position in Bio-Rad Laboratories in the 3rd quarter worth approximately $11,054,000. IFM Investors Pty Ltd lifted its holdings in shares of Bio-Rad Laboratories by 5.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 4,057 shares of the medical research company’s stock worth $1,454,000 after acquiring an additional 200 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Bio-Rad Laboratories by 6.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 312,583 shares of the medical research company’s stock worth $112,046,000 after acquiring an additional 18,419 shares during the last quarter. Finally, Caxton Associates LP bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth approximately $668,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Down 0.5 %

NYSE:BIO traded down $1.29 during midday trading on Friday, reaching $279.73. 294,125 shares of the stock traded hands, compared to its average volume of 190,036. The company has a fifty day moving average of $329.85 and a 200 day moving average of $320.23. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $473.76. 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 stock has a market capitalization of $7.98 billion, a P/E ratio of -13.02 and a beta of 0.87.

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

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total value of $1,008,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,942 shares in the company, valued at approximately $2,332,512. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, February 16th. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $400.00 to $365.00 in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $468.00.

About Bio-Rad Laboratories

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.