Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 22.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,960 shares of the medical research company’s stock after selling 12,372 shares during the period. Assenagon Asset Management S.A. owned approximately 0.15% of Bio-Rad Laboratories worth $14,039,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. lifted its stake in Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. Wahed Invest LLC raised its position in shares of Bio-Rad Laboratories by 14.0% during the first quarter. Wahed Invest LLC now owns 399 shares of the medical research company’s stock worth $138,000 after purchasing an additional 49 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Bio-Rad Laboratories by 7.7% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 836 shares of the medical research company’s stock valued at $289,000 after purchasing an additional 60 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Bio-Rad Laboratories by 193.8% during the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. Finally, Natixis increased its stake in Bio-Rad Laboratories by 3.4% in the 1st quarter. Natixis now owns 1,986 shares of the medical research company’s stock worth $687,000 after purchasing an additional 65 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $320.23 on Friday. Bio-Rad Laboratories, Inc. has a 52 week low of $261.59 and a 52 week high of $364.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.63 and a current ratio of 6.28. The company has a market capitalization of $9.13 billion, a PE ratio of -30.91 and a beta of 0.95. The company’s 50 day moving average price is $331.37 and its 200 day moving average price is $307.32.

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

Insider Transactions at Bio-Rad Laboratories

In related news, EVP James Barry sold 623 shares of the business’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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the firm’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 transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. 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. Also, EVP James Barry sold 623 shares of the business’s 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 sale, the executive vice president now directly owns 147 shares of the company’s stock, valued at $48,582.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BIO shares. Citigroup raised shares of Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and upped their price objective for the company from $350.00 to $400.00 in a research note on Tuesday, October 1st. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $401.00 price objective on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Finally, 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 target price for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $368.20.

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.