111 Shares in Bio-Rad Laboratories, Inc. (NYSE:BIO) Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC acquired a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 111 shares of the medical research company’s stock, valued at approximately $38,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BIO. Gladius Capital Management LP boosted its holdings in Bio-Rad Laboratories by 65.8% in the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock worth $39,000 after buying an additional 48 shares during the period. Principal Securities Inc. bought a new position in shares of Bio-Rad Laboratories in the fourth quarter worth $41,000. GAMMA Investing LLC bought a new position in shares of Bio-Rad Laboratories in the fourth quarter worth $42,000. Parallel Advisors LLC grew its position in shares of Bio-Rad Laboratories by 36.8% in the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock valued at $55,000 after purchasing an additional 46 shares in the last quarter. Finally, Bfsg LLC bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at $77,000. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $278.16 on Thursday. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $431.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.57 and a quick ratio of 4.89. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of -26.85 and a beta of 0.95. The company’s fifty day moving average price is $284.34 and its 200-day moving average price is $310.89.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Tuesday, May 7th. The medical research company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.25. Bio-Rad Laboratories had a positive return on equity of 3.59% and a negative net margin of 12.37%. The business had revenue of $610.82 million for the quarter, compared to analysts’ expectations of $619.09 million. During the same quarter in the prior year, the firm earned $3.34 earnings per share. The firm’s revenue was down 9.8% on a year-over-year basis. On average, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.8 earnings per share for the current fiscal year.

Insider Activity at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total value of $104,024.79. Following the completion of the sale, the executive vice president now owns 6,573 shares of the company’s stock, valued at $1,852,994.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, May 28th. Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $400.00 to $365.00 in a research note on Wednesday, April 3rd. UBS Group lowered their target price on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Jefferies Financial Group restated a “hold” rating and set a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $436.67.

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.