Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Swedbank AB

Swedbank AB lowered its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 7.8% during the third quarter, Holdings Channel reports. The fund owned 4,860 shares of the medical research company’s stock after selling 414 shares during the quarter. Swedbank AB’s holdings in Bio-Rad Laboratories were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp purchased a new stake in Bio-Rad Laboratories in the second quarter valued at $180,040,000. First Eagle Investment Management LLC boosted its stake in shares of Bio-Rad Laboratories by 32,296.9% in the second quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after buying an additional 634,311 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Bio-Rad Laboratories by 64.4% during the second quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock worth $135,081,000 after acquiring an additional 193,700 shares during the period. Select Equity Group L.P. raised its position in Bio-Rad Laboratories by 26.2% during 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 acquiring an additional 134,856 shares in the last quarter. Finally, Earnest Partners LLC lifted its holdings in Bio-Rad Laboratories by 30.8% in the first quarter. Earnest Partners LLC now owns 514,906 shares of the medical research company’s stock valued at $178,091,000 after acquiring an additional 121,272 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 0.7 %

BIO stock opened at $346.37 on Friday. The stock has a market capitalization of $9.88 billion, a P/E ratio of -33.43 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 52 week low of $261.59 and a 52 week high of $364.24. The firm has a 50-day simple moving average of $330.37 and a 200-day simple moving average of $307.29. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18.

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. The business had revenue of $638.50 million during the quarter, compared to analysts’ expectations of $645.79 million. Bio-Rad Laboratories had a positive return on equity of 3.77% and a negative net margin of 51.73%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.00 earnings per share. Equities analysts forecast that Bio-Rad Laboratories, Inc. will post 9.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on BIO. Royal Bank of Canada reaffirmed an “outperform” rating and set a $401.00 price objective on shares of Bio-Rad Laboratories in a research note on Friday, August 16th. Wells Fargo & Company started 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 upgraded shares of Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $350.00 to $400.00 in a research report on Tuesday, October 1st. Finally, StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $368.20.

Insider Activity at Bio-Rad Laboratories

In other news, EVP James Barry sold 623 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were 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 owns 147 shares of the company’s stock, valued at $48,582.03. This 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 through this hyperlink. In related news, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories 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 transaction, the chief operating officer now owns 7,559 shares in the company, valued at approximately $2,494,016.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James Barry sold 623 shares of the company’s stock in a transaction on 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 owns 147 shares of the company’s stock, valued at approximately $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. 17.06% of the stock is owned by corporate 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.