LPL Financial LLC increased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 5.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,851 shares of the medical research company’s stock after buying an additional 1,600 shares during the period. LPL Financial LLC owned 0.10% of Bio-Rad Laboratories worth $11,696,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of BIO. American Century Companies Inc. lifted its stake in shares of 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 purchasing an additional 158 shares during the period. MetLife Investment Management LLC increased its stake in shares of Bio-Rad Laboratories by 23.0% during the 1st quarter. MetLife Investment Management LLC now owns 5,872 shares of the medical research company’s stock worth $3,307,000 after purchasing an additional 1,097 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Bio-Rad Laboratories by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,891 shares of the medical research company’s stock worth $1,628,000 after buying an additional 179 shares during the last quarter. Raymond James Trust N.A. increased 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 worth $283,000 after acquiring an additional 26 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Bio-Rad Laboratories by 11.9% in the first quarter. Allianz Asset Management GmbH now owns 65,094 shares of the medical research company’s stock worth $36,663,000 after purchasing an additional 6,936 shares in the last quarter. Institutional investors and hedge funds own 63.98% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on BIO shares. StockNews.com initiated coverage on Bio-Rad Laboratories in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their price objective on Bio-Rad Laboratories from $522.00 to $524.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Wells Fargo & Company reduced their target price on Bio-Rad Laboratories from $550.00 to $525.00 and set an “overweight” rating for the company in a research report on Monday, August 7th. Finally, Credit Suisse Group reduced their target price on Bio-Rad Laboratories from $580.00 to $550.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $533.00.
Insider Activity at Bio-Rad Laboratories
In other Bio-Rad Laboratories news, EVP Timothy S. Ernst sold 300 shares of Bio-Rad Laboratories stock in a transaction dated 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 transaction, the executive vice president now directly owns 2,416 shares of the company’s stock, valued at $929,411.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Timothy S. Ernst sold 2,350 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were 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 of the company’s stock, valued at approximately $955,769.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy S. Ernst sold 300 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $384.69, for a total transaction of $115,407.00. Following the sale, the executive vice president now directly 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 corporate insiders.
Bio-Rad Laboratories Trading Down 7.2 %
Shares of BIO stock opened at $270.68 on Monday. The stock has a market capitalization of $7.87 billion, a PE ratio of -46.27 and a beta of 0.91. Bio-Rad Laboratories, Inc. has a 1-year low of $266.19 and a 1-year high of $509.62. The business has a 50-day moving average of $356.08 and a 200 day moving average of $383.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.39 and a quick ratio of 4.06.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last issued its quarterly earnings data on Thursday, October 26th. The medical research company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.54). The company had revenue of $632.10 million during the quarter, compared to analysts’ expectations of $689.50 million. Bio-Rad Laboratories had a positive return on equity of 3.82% and a negative net margin of 5.86%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the business earned $2.60 earnings per share. As a group, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 12.9 earnings per share for the current year.
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. 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.
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