Point72 Hong Kong Ltd Takes $55,000 Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Point72 Hong Kong Ltd bought a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 165 shares of the medical research company’s stock, valued at approximately $55,000.

A number of other hedge funds have also made changes to their positions in BIO. Van ECK Associates Corp increased its holdings in shares of Bio-Rad Laboratories by 97.8% during the third quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock worth $436,861,000 after buying an additional 644,530 shares in the last quarter. Select Equity Group L.P. grew its position in Bio-Rad Laboratories by 26.2% during the 2nd quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after acquiring an additional 134,856 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Bio-Rad Laboratories by 32,296.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock valued at $173,773,000 after purchasing an additional 634,311 shares in the last quarter. Earnest Partners LLC raised its position in Bio-Rad Laboratories by 17.8% in the 2nd quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock valued at $165,720,000 after purchasing an additional 91,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Bio-Rad Laboratories by 64.4% in the second quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock worth $135,081,000 after purchasing an additional 193,700 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $332.28 on Wednesday. The company has a market cap of $9.30 billion, a PE ratio of -12.16 and a beta of 0.90. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories, Inc. has a 1 year low of $262.12 and a 1 year high of $387.99. The company’s 50-day moving average is $341.01 and its two-hundred day moving average is $318.35.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The business had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. During the same period in the prior year, the business posted $2.33 earnings per share. Bio-Rad Laboratories’s revenue was up 2.8% compared to the same quarter last year. Equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BIO. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada boosted their target price on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Citigroup upped their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $391.80.

Insider Transactions at Bio-Rad Laboratories

In related news, COO Andrew J. Last sold 3,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $329.94, for a total value of $989,820.00. Following the sale, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 28.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 17.50% of the stock is owned by corporate insiders.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.