Gabelli Funds LLC raised its position in Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 1.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 37,200 shares of the medical research company’s stock after purchasing an additional 500 shares during the period. Gabelli Funds LLC owned about 0.13% of Bio-Rad Laboratories worth $14,103,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Raleigh Capital Management Inc. boosted its stake in shares of Bio-Rad Laboratories by 138.2% during the first quarter. Raleigh Capital Management Inc. now owns 81 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 47 shares during the last quarter. Atlas Capital Advisors LLC acquired a new stake in shares of Bio-Rad Laboratories during the second quarter valued at $50,000. Pacific Center for Financial Services acquired a new stake in shares of Bio-Rad Laboratories during the first quarter valued at $49,000. Clearstead Advisors LLC purchased a new position in Bio-Rad Laboratories during the first quarter worth about $57,000. Finally, Dark Forest Capital Management LP lifted its position in Bio-Rad Laboratories by 1,160.0% during the first quarter. Dark Forest Capital Management LP now owns 126 shares of the medical research company’s stock worth $60,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 63.98% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on BIO shares. Wells Fargo & Company reduced their target price on Bio-Rad Laboratories from $550.00 to $525.00 and set an “overweight” rating on the stock in a research report on Monday, August 7th. Credit Suisse Group cut their price objective on Bio-Rad Laboratories from $580.00 to $550.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Royal Bank of Canada raised their price objective on Bio-Rad Laboratories from $522.00 to $524.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, October 30th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $533.00.
Insider Buying and Selling at Bio-Rad Laboratories
In other Bio-Rad Laboratories news, EVP Timothy S. Ernst sold 300 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $929,411.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Timothy S. Ernst sold 2,350 shares of Bio-Rad Laboratories stock in a transaction that occurred on 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 transaction, the executive vice president now owns 2,416 shares in the company, valued at approximately $955,769.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Timothy S. Ernst sold 300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $384.69, for a total value of $115,407.00. Following the completion of the sale, the executive vice president now directly owns 2,416 shares in the company, valued at approximately $929,411.04. The disclosure for this sale can be found here. 17.06% of the stock is owned by insiders.
Bio-Rad Laboratories Stock Performance
Shares of NYSE:BIO opened at $304.52 on Tuesday. The company has a market cap of $8.88 billion, a P/E ratio of -52.05 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.25 and a current ratio of 5.64. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $509.62. The business’s 50-day simple moving average is $328.24 and its 200 day simple moving average is $364.48.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $689.50 million. Bio-Rad Laboratories had a negative net margin of 5.86% and a positive return on equity of 3.91%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.60 earnings per share. On average, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 11.6 earnings per share for the current fiscal 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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