Sector Gamma AS reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 45.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,368 shares of the medical research company’s stock after selling 38,658 shares during the period. Bio-Rad Laboratories accounts for approximately 2.6% of Sector Gamma AS’s holdings, making the stock its 14th biggest position. Sector Gamma AS owned approximately 0.16% of Bio-Rad Laboratories worth $15,428,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. FMR LLC lifted its stake in Bio-Rad Laboratories by 12.7% during the first quarter. FMR LLC now owns 182,762 shares of the medical research company’s stock valued at $55,867,000 after purchasing an additional 20,560 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Bio-Rad Laboratories during the second quarter valued at approximately $13,083,000. NN Investment Partners Holdings N.V. acquired a new stake in Bio-Rad Laboratories during the second quarter valued at approximately $1,156,000. Oregon Public Employees Retirement Fund lifted its stake in Bio-Rad Laboratories by 2.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 8,212 shares of the medical research company’s stock valued at $2,567,000 after purchasing an additional 215 shares during the last quarter. Finally, Machina Capital S.A.S. lifted its stake in Bio-Rad Laboratories by 60.8% during the second quarter. Machina Capital S.A.S. now owns 944 shares of the medical research company’s stock valued at $295,000 after purchasing an additional 357 shares during the last quarter. 62.30% of the stock is owned by institutional investors.
In other news, EVP Timothy S. Ernst sold 310 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $320.00, for a total transaction of $99,200.00. Following the sale, the executive vice president now owns 3,100 shares in the company, valued at $992,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Crowley sold 1,089 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $333.08, for a total transaction of $362,724.12. Following the sale, the executive vice president now owns 2,011 shares in the company, valued at approximately $669,823.88. The disclosure for this sale can be found here. Insiders have sold 7,876 shares of company stock worth $2,634,905 in the last 90 days. 27.84% of the stock is owned by company insiders.
Shares of BIO stock traded up $6.97 during trading hours on Friday, reaching $352.45. 188,149 shares of the stock traded hands, compared to its average volume of 218,130. Bio-Rad Laboratories, Inc. has a 1-year low of $220.05 and a 1-year high of $358.89. The business has a fifty day moving average price of $340.30 and a 200 day moving average price of $319.57. The company has a quick ratio of 3.36, a current ratio of 4.72 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $10.28 billion, a PE ratio of 60.35, a PEG ratio of 3.23 and a beta of 1.16.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, October 31st. The medical research company reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.25. Bio-Rad Laboratories had a net margin of 16.14% and a return on equity of 4.30%. The business had revenue of $560.60 million for the quarter, compared to analyst estimates of $561.40 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. Research analysts expect that Bio-Rad Laboratories, Inc. will post 7.2 earnings per share for the current fiscal year.
Several analysts recently commented on the stock. ValuEngine lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Barclays increased their target price on shares of Bio-Rad Laboratories from $350.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. They noted that the move was a valuation call. Finally, Goldman Sachs Group raised shares of Bio-Rad Laboratories from a “buy” rating to a “conviction-buy” rating and set a $400.00 target price for the company in a research note on Tuesday, August 20th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $378.75.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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