Bio-Rad Laboratories (NYSE:BIO) Stock Price Down 4.3%

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) traded down 4.3% on Friday . The stock traded as low as $329.61 and last traded at $329.61. 31,026 shares were traded during trading, a decline of 86% from the average session volume of 225,685 shares. The stock had previously closed at $344.60.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup boosted their target price on Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Company started 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. 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, Jefferies Financial Group reaffirmed a “hold” rating and issued a $315.00 price target (down previously from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $358.20.

Bio-Rad Laboratories Stock Down 4.5 %

The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $9.39 billion, a PE ratio of -31.69 and a beta of 0.95. The firm has a 50-day moving average of $323.25 and a two-hundred day moving average of $307.87.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 earnings per share 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 period in the previous year, the firm posted $3.00 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP James Barry sold 623 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the transaction, the executive vice president now directly owns 147 shares of the company’s stock, valued at approximately $48,582.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction dated 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 sale, the chief operating officer now directly owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Barry sold 623 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 147 shares of the company’s stock, valued at $48,582.03. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by insiders.

Institutional Trading of Bio-Rad Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Advisors Ltd. LLC increased its position 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 worth $26,000 after purchasing an additional 62 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $38,000. Principal Securities Inc. acquired a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $41,000. EntryPoint Capital LLC acquired a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $51,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth approximately $51,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Company 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.