Inspire Investing LLC Decreases Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Inspire Investing LLC lowered its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 24.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 964 shares of the medical research company’s stock after selling 310 shares during the period. Inspire Investing LLC’s holdings in Bio-Rad Laboratories were worth $263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BIO. Brio Consultants LLC acquired a new position in Bio-Rad Laboratories during the fourth quarter worth about $840,000. Corient Private Wealth LLC raised its position in shares of Bio-Rad Laboratories by 11.2% during the 4th quarter. Corient Private Wealth LLC now owns 2,178 shares of the medical research company’s stock worth $703,000 after purchasing an additional 220 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Bio-Rad Laboratories by 34.3% in the 4th quarter. Hsbc Holdings PLC now owns 29,067 shares of the medical research company’s stock valued at $9,401,000 after buying an additional 7,426 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Bio-Rad Laboratories by 38.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 151,691 shares of the medical research company’s stock valued at $48,980,000 after buying an additional 41,937 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in 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 buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BIO shares. Jefferies Financial Group restated a “hold” rating and issued a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price target on the stock. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and set a $401.00 target price on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Finally, Citigroup lifted 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 note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $358.20.

Insider Activity at Bio-Rad Laboratories

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

Bio-Rad Laboratories Trading Up 0.4 %

Shares of BIO stock opened at $327.89 on Wednesday. The firm’s 50-day simple moving average is $324.52 and its 200-day simple moving average is $307.29. 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 1-year low of $261.59 and a 1-year high of $366.30. The firm has a market cap of $9.35 billion, a P/E ratio of -31.65 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.99. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. The company had revenue of $638.50 million for the quarter, compared to the consensus estimate of $645.79 million. During the same quarter last year, the firm posted $3.00 earnings per share. Bio-Rad Laboratories’s revenue was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.31 EPS for the current year.

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.