Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Posted by Defense World Staff on Jun 4th, 2023

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) by 9.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,975 shares of the medical research company’s stock after selling 218 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Bio-Rad Laboratories were worth $830,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BIO. American Century Companies Inc. grew its stake in Bio-Rad Laboratories by 14.0% in the 1st quarter. American Century Companies Inc. now owns 1,286 shares of the medical research company’s stock valued at $724,000 after acquiring an additional 158 shares during the period. MetLife Investment Management LLC grew its stake in Bio-Rad Laboratories by 23.0% in the 1st quarter. MetLife Investment Management LLC now owns 5,872 shares of the medical research company’s stock valued at $3,307,000 after acquiring an additional 1,097 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Bio-Rad Laboratories by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,891 shares of the medical research company’s stock valued at $1,628,000 after acquiring an additional 179 shares during the period. Raymond James Trust N.A. lifted its holdings in Bio-Rad Laboratories by 5.5% in the 1st quarter. Raymond James Trust N.A. now owns 501 shares of the medical research company’s stock valued at $283,000 after purchasing an additional 26 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Bio-Rad Laboratories by 11.9% in the 1st quarter. Allianz Asset Management GmbH now owns 65,094 shares of the medical research company’s stock valued at $36,663,000 after purchasing an additional 6,936 shares in the last quarter. Institutional investors and hedge funds own 64.35% of the company’s stock.

Analysts Set New Price Targets

BIO has been the topic of a number of research reports. Royal Bank of Canada raised their price objective on Bio-Rad Laboratories from $571.00 to $579.00 and gave the company an “outperform” rating in a report on Friday, February 17th. Credit Suisse Group raised their price objective on Bio-Rad Laboratories from $640.00 to $680.00 and gave the company an “outperform” rating in a report on Friday, February 17th. TheStreet upgraded Bio-Rad Laboratories from a “d+” rating to a “c” rating in a report on Thursday, February 16th. Finally, StockNews.com started coverage on Bio-Rad Laboratories in a report on Thursday, May 18th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Bio-Rad Laboratories presently has an average rating of “Buy” and a consensus price target of $653.00.

Insider Activity at Bio-Rad Laboratories

In related news, EVP Timothy S. Ernst sold 1,746 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $486.43, for a total value of $849,306.78. Following the sale, the executive vice president now directly owns 2,671 shares in the company, valued at approximately $1,299,254.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.06% of the stock is owned by insiders.

Bio-Rad Laboratories Stock Up 0.3 %

NYSE BIO opened at $372.36 on Friday. Bio-Rad Laboratories, Inc. has a 52 week low of $344.63 and a 52 week high of $572.70. The company has a quick ratio of 4.28, a current ratio of 5.56 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $428.26 and its 200-day simple moving average is $440.38. The firm has a market cap of $11.03 billion, a PE ratio of -56.94 and a beta of 0.91.

Bio-Rad Laboratories (NYSE:BIO – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The medical research company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.10. The firm had revenue of $676.80 million for the quarter, compared to analyst estimates of $689.28 million. Bio-Rad Laboratories had a negative net margin of 7.01% and a positive return on equity of 4.10%. Bio-Rad Laboratories’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.94 EPS. As a group, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 14.12 earnings per share for the current year.

Bio-Rad Laboratories Company Profile

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Bio-Rad Laboratories, Inc engages in the development and production of specialty chemicals used in biochemical, pharmaceutical, and other life science research applications. It operates through the Life Sciences and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments.