Gateway Investment Advisers LLC Trims Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Gateway Investment Advisers LLC lowered its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 785 shares of the medical research company’s stock after selling 90 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Bio-Rad Laboratories were worth $263,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BIO. Capital Advisors Ltd. LLC boosted 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 valued at $26,000 after acquiring an additional 62 shares in the last quarter. UMB Bank n.a. grew its position in shares of Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 45 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter valued at about $38,000. EntryPoint Capital LLC acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter valued at about $51,000. Finally, Headlands Technologies LLC acquired a new stake in Bio-Rad Laboratories in the 2nd quarter worth about $51,000. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 1.1 %

BIO stock opened at $336.92 on Monday. The firm has a market capitalization of $9.61 billion, a PE ratio of -32.52 and a beta of 0.95. 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 $364.24. The company’s 50 day simple moving average is $328.84 and its 200-day simple moving average is $306.88.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.99. The company had revenue of $638.50 million during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.00 EPS. Equities analysts expect that Bio-Rad Laboratories, Inc. will post 9.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BIO. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price target on the stock. Citigroup raised Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and boosted their target price for the company from $350.00 to $400.00 in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $401.00 price objective on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.20.

Insiders Place Their Bets

In other news, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $329.94, for a total value of $989,820.00. Following the sale, the chief operating officer now owns 7,559 shares in the company, valued at approximately $2,494,016.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the transaction, the chief operating officer now owns 7,559 shares in the company, valued at approximately $2,494,016.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by company insiders.

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.