State of Alaska Department of Revenue lifted its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 81.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,147 shares of the medical research company’s stock after purchasing an additional 1,858 shares during the period. State of Alaska Department of Revenue’s holdings in Bio-Rad Laboratories were worth $1,379,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Motco bought a new position in Bio-Rad Laboratories in the 2nd quarter worth $25,000. Berman Capital Advisors LLC bought a new position in shares of Bio-Rad Laboratories during the 2nd quarter valued at about $26,000. Capital Investment Advisory Services LLC bought a new position in shares of Bio-Rad Laboratories during the 2nd quarter valued at about $48,000. Advisory Services Network LLC boosted its holdings in shares of Bio-Rad Laboratories by 64.9% during the 2nd quarter. Advisory Services Network LLC now owns 160 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 63 shares during the last quarter. Finally, CSat Investment Advisory L.P. bought a new position in shares of Bio-Rad Laboratories during the 2nd quarter valued at about $132,000. Hedge funds and other institutional investors own 62.13% of the company’s stock.
Several research firms have commented on BIO. ValuEngine downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Goldman Sachs Group raised shares of Bio-Rad Laboratories from a “buy” rating to a “conviction-buy” rating and set a $400.00 price objective for the company in a report on Tuesday, August 20th. Finally, Barclays increased their price objective on shares of Bio-Rad Laboratories from $350.00 to $380.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $378.75.
In other news, EVP John Hertia sold 5,195 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $336.57, for a total transaction of $1,748,481.15. Following the transaction, the executive vice president now directly owns 15,507 shares of the company’s stock, valued at $5,219,190.99. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Crowley sold 1,089 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $333.08, for a total transaction of $362,724.12. Following the transaction, the executive vice president now directly owns 2,011 shares in the company, valued at $669,823.88. The disclosure for this sale can be found here. Insiders sold a total of 7,876 shares of company stock worth $2,634,905 over the last three months. 27.84% of the stock is currently owned by corporate insiders.
Shares of NYSE BIO opened at $331.24 on Friday. The firm’s 50-day moving average price is $335.73 and its 200-day moving average price is $314.13. The company has a current ratio of 4.68, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 56.72, a P/E/G ratio of 3.01 and a beta of 1.16. Bio-Rad Laboratories, Inc. has a 12-month low of $220.05 and a 12-month high of $348.39.
Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.18. Bio-Rad Laboratories had a net margin of 39.32% and a return on equity of 3.92%. The company had revenue of $572.60 million for the quarter, compared to analyst estimates of $564.88 million. During the same period in the prior year, the company posted $1.64 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts predict that Bio-Rad Laboratories, Inc. will post 7.15 EPS for the current fiscal year.
Bio-Rad Laboratories Company Profile
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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