Cramer Rosenthal Mcglynn LLC Boosts Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Cramer Rosenthal Mcglynn LLC increased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,073 shares of the medical research company’s stock after purchasing an additional 2,051 shares during the quarter. Bio-Rad Laboratories accounts for 1.7% of Cramer Rosenthal Mcglynn LLC’s investment portfolio, making the stock its 16th biggest holding. Cramer Rosenthal Mcglynn LLC owned approximately 0.27% of Bio-Rad Laboratories worth $38,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Heritage Wealth Management LLC raised its holdings in Bio-Rad Laboratories by 100.0% during the fourth quarter. Heritage Wealth Management LLC now owns 66 shares of the medical research company’s stock worth $28,000 after purchasing an additional 33 shares during the last quarter. CI Investments Inc. raised its holdings in shares of Bio-Rad Laboratories by 50.0% in the fourth quarter. CI Investments Inc. now owns 84 shares of the medical research company’s stock worth $35,000 after acquiring an additional 28 shares during the last quarter. Desjardins Global Asset Management Inc. acquired a new position in shares of Bio-Rad Laboratories in the first quarter worth $35,000. Allworth Financial LP raised its holdings in shares of Bio-Rad Laboratories by 66.1% in the first quarter. Allworth Financial LP now owns 93 shares of the medical research company’s stock worth $45,000 after acquiring an additional 37 shares during the last quarter. Finally, Atlas Capital Advisors LLC acquired a new position in shares of Bio-Rad Laboratories in the second quarter worth $50,000. 63.98% of the stock is owned by institutional investors and hedge funds.

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 dated Wednesday, August 23rd. The stock was sold at an average price of $384.69, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Timothy S. Ernst sold 2,350 shares of the stock in a transaction dated 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 owns 2,416 shares in the company, valued at $955,769.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy S. Ernst sold 300 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 2,416 shares of the company’s stock, valued at approximately $929,411.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,150 shares of company stock valued at $1,234,762. Company insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Trading Down 2.7 %

Bio-Rad Laboratories stock traded down $9.97 during trading on Friday, hitting $357.91. The company’s stock had a trading volume of 229,156 shares, compared to its average volume of 123,465. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of -23.84 and a beta of 0.89. The stock’s fifty day moving average is $393.29 and its 200 day moving average is $416.76. Bio-Rad Laboratories, Inc. has a 1-year low of $344.63 and a 1-year high of $514.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.06 and a current ratio of 5.39.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly 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. Bio-Rad Laboratories had a positive return on equity of 4.02% and a negative net margin of 15.52%. The firm had revenue of $681.10 million during the quarter, compared to the consensus estimate of $697.96 million. During the same quarter in the previous year, the business earned $3.38 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Bio-Rad Laboratories, Inc. will post 12.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BIO shares. StockNews.com started coverage on Bio-Rad Laboratories in a report on Thursday, August 17th. They issued a “buy” rating for the company. Credit Suisse Group cut their price target on Bio-Rad Laboratories from $580.00 to $550.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Royal Bank of Canada upped their target price 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. Finally, Wells Fargo & Company dropped their target price on Bio-Rad Laboratories from $550.00 to $525.00 and set an “overweight” rating for the company in a research note on Monday, August 7th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Bio-Rad Laboratories has a consensus rating of “Buy” and an average target price of $533.00.

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.