State of Alaska Department of Revenue Decreases Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Posted by Defense World Staff on Oct 17th, 2023

State of Alaska Department of Revenue trimmed its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 10.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,649 shares of the medical research company’s stock after selling 325 shares during the period. State of Alaska Department of Revenue’s holdings in Bio-Rad Laboratories were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of BIO. Simplicity Solutions LLC increased its position in shares of Bio-Rad Laboratories by 303.7% during the first quarter. Simplicity Solutions LLC now owns 2,067 shares of the medical research company’s stock worth $990,000 after purchasing an additional 1,555 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Bio-Rad Laboratories by 1.0% during the first quarter. Principal Financial Group Inc. now owns 30,433 shares of the medical research company’s stock worth $14,578,000 after purchasing an additional 304 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Bio-Rad Laboratories in the 1st quarter valued at about $502,000. Vinva Investment Management Ltd acquired a new position in Bio-Rad Laboratories in the 1st quarter valued at about $1,233,000. Finally, HRT Financial LP increased its position in Bio-Rad Laboratories by 353.2% in the 1st quarter. HRT Financial LP now owns 6,231 shares of the medical research company’s stock valued at $2,984,000 after acquiring an additional 4,856 shares during the period. 63.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Timothy S. Ernst sold 300 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $384.69, for a total value of $115,407.00. Following the completion of the transaction, the executive vice president now directly owns 2,416 shares in the company, valued at approximately $929,411.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Timothy S. Ernst sold 2,350 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $395.60, for a total value of $929,660.00. Following the completion of the sale, the executive vice president now directly owns 2,416 shares in the company, valued at approximately $955,769.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy S. Ernst sold 300 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $384.69, for a total value of $115,407.00. Following the completion of the sale, the executive vice president now owns 2,416 shares of the company’s stock, valued at $929,411.04. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on BIO. Wells Fargo & Company lowered their price objective on Bio-Rad Laboratories from $550.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, August 7th. Royal Bank of Canada boosted their price target on Bio-Rad Laboratories from $522.00 to $524.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Credit Suisse Group decreased their price target on Bio-Rad Laboratories from $580.00 to $550.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Finally, StockNews.com initiated coverage on Bio-Rad Laboratories in a research note on Thursday, October 5th. 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, the stock has an average rating of “Buy” and an average price target of $533.00.

View Our Latest Report on Bio-Rad Laboratories

Bio-Rad Laboratories Price Performance

BIO stock opened at $351.08 on Tuesday. Bio-Rad Laboratories, Inc. has a 1 year low of $340.09 and a 1 year high of $509.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.06 and a current ratio of 5.39. The stock’s 50 day moving average price is $373.04 and its 200 day moving average price is $394.55. The firm has a market cap of $10.21 billion, a P/E ratio of -23.39 and a beta of 0.91.

Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last posted its earnings results on Thursday, August 3rd. The medical research company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.45. The firm had revenue of $681.10 million for the quarter, compared to analyst estimates of $697.96 million. Bio-Rad Laboratories had a positive return on equity of 4.02% and a negative net margin of 15.52%. Bio-Rad Laboratories’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.38 EPS. On average, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 12.93 earnings per share for the current fiscal year.

Bio-Rad Laboratories Profile

(Free Report)

Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.