Massachusetts Financial Services Co. MA Increases Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Massachusetts Financial Services Co. MA raised its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 348,540 shares of the medical research company’s stock after purchasing an additional 1,288 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Bio-Rad Laboratories were worth $95,190,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its stake in Bio-Rad Laboratories by 193.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Bio-Rad Laboratories in the 1st quarter valued at about $38,000. Principal Securities Inc. acquired a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at about $41,000. EntryPoint Capital LLC acquired a new position in shares of Bio-Rad Laboratories in the 1st quarter valued at about $51,000. Finally, Headlands Technologies LLC acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $340.66 on Thursday. The stock has a market capitalization of $9.72 billion, a price-to-earnings ratio of -32.83 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a twelve month low of $261.59 and a twelve month high of $370.57. The company has a current ratio of 6.28, a quick ratio of 4.63 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average of $321.07 and a 200 day moving average of $307.38.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Bio-Rad Laboratories

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

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.