Blue Sky Asset Management LLC Acquires Shares of 3,510 Bio-Rad Laboratories, Inc. (BIO)

Blue Sky Asset Management LLC purchased a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,510 shares of the medical research company’s stock, valued at approximately $838,000.

A number of other institutional investors also recently modified their holdings of BIO. American Century Companies Inc. increased its position in shares of Bio-Rad Laboratories by 4.8% during the 4th quarter. American Century Companies Inc. now owns 593,417 shares of the medical research company’s stock worth $141,631,000 after purchasing an additional 27,220 shares in the last quarter. Comerica Bank increased its position in shares of Bio-Rad Laboratories by 1.4% during the 4th quarter. Comerica Bank now owns 16,403 shares of the medical research company’s stock worth $4,173,000 after purchasing an additional 221 shares in the last quarter. Quantitative Systematic Strategies LLC increased its position in shares of Bio-Rad Laboratories by 127.2% during the 4th quarter. Quantitative Systematic Strategies LLC now owns 4,587 shares of the medical research company’s stock worth $1,095,000 after purchasing an additional 2,568 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bio-Rad Laboratories by 42.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,165 shares of the medical research company’s stock worth $278,000 after purchasing an additional 350 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of Bio-Rad Laboratories by 1.5% during the 4th quarter. Mutual of America Capital Management LLC now owns 16,673 shares of the medical research company’s stock worth $3,979,000 after purchasing an additional 241 shares in the last quarter. 63.43% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories, Inc. (NYSE:BIO) traded up $3.73 during trading on Wednesday, reaching $241.09. 683 shares of the company traded hands, compared to its average volume of 167,320. Bio-Rad Laboratories, Inc. has a twelve month low of $186.98 and a twelve month high of $273.87. The company has a market cap of $7,133.89, a price-to-earnings ratio of 76.09, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. The company has a quick ratio of 2.77, a current ratio of 4.06 and a debt-to-equity ratio of 0.15.

Bio-Rad Laboratories announced that its board has initiated a share buyback plan on Tuesday, November 28th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the medical research company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

In other Bio-Rad Laboratories news, CFO Christine A. Tsingos sold 4,980 shares of Bio-Rad Laboratories stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $249.40, for a total value of $1,242,012.00. Following the transaction, the chief financial officer now owns 7,283 shares of the company’s stock, valued at $1,816,380.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP James R. Stark sold 746 shares of Bio-Rad Laboratories stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $270.51, for a total transaction of $201,800.46. The disclosure for this sale can be found here. Insiders have sold a total of 6,726 shares of company stock worth $1,702,202 in the last three months. 28.29% of the stock is owned by insiders.

Several research firms have weighed in on BIO. Wells Fargo & Co restated an “outperform” rating and issued a $290.00 price objective (up previously from $250.00) on shares of Bio-Rad Laboratories in a research report on Wednesday, November 29th. TheStreet upgraded shares of Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Finally, Zacks Investment Research upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 price objective for the company in a research report on Wednesday, December 13th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $277.75.

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About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.

Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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