Prudential PLC Takes $399,000 Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Prudential PLC purchased a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,460 shares of the medical research company’s stock, valued at approximately $399,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in shares of Bio-Rad Laboratories by 36.8% during the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after purchasing an additional 46 shares in the last quarter. Wahed Invest LLC boosted its position in Bio-Rad Laboratories by 14.0% in the 1st quarter. Wahed Invest LLC now owns 399 shares of the medical research company’s stock valued at $138,000 after buying an additional 49 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Bio-Rad Laboratories by 7.7% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 836 shares of the medical research company’s stock valued at $289,000 after buying an additional 60 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Bio-Rad Laboratories by 193.8% during the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after acquiring an additional 62 shares during the last quarter. Finally, Natixis increased its position in shares of Bio-Rad Laboratories by 3.4% during the first quarter. Natixis now owns 1,986 shares of the medical research company’s stock worth $687,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Activity

In related news, EVP James Barry sold 623 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total value of $205,895.27. Following the sale, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP James Barry sold 623 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the sale, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the completion of the sale, the chief operating officer now owns 7,559 shares in the company, valued at $2,494,016.46. The disclosure for this sale can be found here. Corporate insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $326.22 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.28 and a quick ratio of 4.63. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $384.37. The company has a fifty day moving average price of $318.79 and a two-hundred day moving average price of $307.66. The company has a market cap of $9.09 billion, a PE ratio of -31.49 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.12 by $0.99. The business had revenue of $638.50 million during the quarter, compared to analyst estimates of $645.79 million. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.00 EPS. Research analysts expect that Bio-Rad Laboratories, Inc. will post 10.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BIO. StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price target for the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Citigroup boosted their target price on shares of Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $401.00 price target on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Bio-Rad Laboratories currently has an average rating of “Hold” and a consensus target price of $358.20.

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.