Earnest Partners LLC reduced its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,771 shares of the medical research company’s stock after selling 2,458 shares during the quarter. Earnest Partners LLC owned approximately 0.39% of Bio-Rad Laboratories worth $25,504,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in BIO. Canada Pension Plan Investment Board acquired a new position in Bio-Rad Laboratories in the second quarter valued at $113,000. Pacad Investment Ltd. acquired a new position in Bio-Rad Laboratories in the second quarter valued at $113,000. First Manhattan Co. increased its stake in Bio-Rad Laboratories by 71.6% in the third quarter. First Manhattan Co. now owns 599 shares of the medical research company’s stock valued at $133,000 after purchasing an additional 250 shares during the last quarter. Turner Investments LLC acquired a new position in Bio-Rad Laboratories in the second quarter valued at $136,000. Finally, Meeder Asset Management Inc. increased its stake in Bio-Rad Laboratories by 3,333.3% in the third quarter. Meeder Asset Management Inc. now owns 618 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 63.91% of the company’s stock.
In other news, EVP Michael Crowley sold 1,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $258.39, for a total value of $258,390.00. Following the completion of the sale, the executive vice president now owns 2,492 shares of the company’s stock, valued at $643,907.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP James R. Stark sold 746 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $270.51, for a total value of $201,800.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,146 shares of company stock valued at $1,067,414. 28.29% of the stock is owned by company insiders.
Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) opened at $255.08 on Monday. Bio-Rad Laboratories, Inc. has a 1 year low of $177.68 and a 1 year high of $273.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.77 and a current ratio of 4.06. The stock has a market capitalization of $7,591.95, a PE ratio of 80.98, a price-to-earnings-growth ratio of 3.81 and a beta of 0.97.
Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, November 2nd. The medical research company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.37. Bio-Rad Laboratories had a return on equity of 3.44% and a net margin of 1.15%. The firm had revenue of $535.00 million during the quarter, compared to the consensus estimate of $507.99 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 2.68 EPS for the current year.
Bio-Rad Laboratories announced that its Board of Directors has authorized a stock buyback program on Tuesday, November 28th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several research firms recently commented on BIO. Deutsche Bank reiterated a “buy” rating and issued a $255.00 target price on shares of Bio-Rad Laboratories in a research note on Monday, September 18th. Zacks Investment Research downgraded Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. TheStreet raised Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $290.00 price target (up previously from $250.00) on shares of Bio-Rad Laboratories in a research report on Wednesday, November 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Bio-Rad Laboratories currently has an average rating of “Buy” and an average price target of $273.33.
Bio-Rad Laboratories Profile
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.
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