Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 16.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,931 shares of the medical research company’s stock after selling 1,742 shares during the quarter. Truist Financial Corp’s holdings in Bio-Rad Laboratories were worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of Bio-Rad Laboratories during the 2nd quarter worth $59,000. William B. Walkup & Associates Inc. bought a new stake in shares of Bio-Rad Laboratories during the 2nd quarter worth $519,000. Scientech Research LLC purchased a new stake in shares of Bio-Rad Laboratories in the second quarter valued at $1,186,000. Select Equity Group L.P. lifted its holdings in shares of Bio-Rad Laboratories by 26.2% in the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock valued at $177,391,000 after purchasing an additional 134,856 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Bio-Rad Laboratories by 44.0% in the second quarter. Mackenzie Financial Corp now owns 1,054 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 322 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $333.17 on Friday. Bio-Rad Laboratories, Inc. has a 1 year low of $261.59 and a 1 year high of $365.19. The business has a fifty day simple moving average of $328.82 and a 200 day simple moving average of $307.44. 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 firm has a market cap of $9.50 billion, a price-to-earnings ratio of -32.16 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, August 1st. The medical research company reported $3.11 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $638.50 million for the quarter, compared to analyst estimates of $645.79 million. During the same period last year, the company earned $3.00 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 target price for the company. Citigroup upgraded Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and increased their target price for the company from $350.00 to $400.00 in a report on Tuesday, October 1st. StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $401.00 price objective on shares of Bio-Rad Laboratories in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $368.20.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the transaction, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 value of $989,820.00. Following the transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at approximately $2,494,016.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Barry sold 623 shares of Bio-Rad Laboratories stock in a transaction dated 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 transaction, the executive vice president now owns 147 shares in the company, valued at $48,582.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.