IFM Investors Pty Ltd Sells 383 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

IFM Investors Pty Ltd reduced its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 10.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,445 shares of the medical research company’s stock after selling 383 shares during the quarter. IFM Investors Pty Ltd’s holdings in Bio-Rad Laboratories were worth $1,153,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Bio-Rad Laboratories by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,421,334 shares of the medical research company’s stock valued at $837,467,000 after purchasing an additional 31,445 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Bio-Rad Laboratories in the second quarter worth $180,040,000. Select Equity Group L.P. boosted its stake 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 buying an additional 134,856 shares during the period. First Eagle Investment Management LLC grew its position in Bio-Rad Laboratories by 32,296.9% during 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 in the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of Bio-Rad Laboratories by 17.8% in the 2nd quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock valued at $165,720,000 after acquiring an additional 91,882 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

BIO stock opened at $320.23 on Monday. The firm has a market cap of $9.13 billion, a P/E ratio of -30.91 and a beta of 0.95. The firm’s fifty day moving average is $331.37 and its 200 day moving average is $307.15. 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.

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 analysts’ consensus estimates of $2.12 by $0.99. The firm had revenue of $638.50 million for 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 company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $3.00 earnings per share. Research analysts predict that Bio-Rad Laboratories, Inc. will post 9.45 earnings per share for the current year.

Insider Transactions at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now owns 7,559 shares of the company’s stock, valued at $2,494,016.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, 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 transaction, the executive vice president now owns 147 shares in the company, valued at $48,582.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $401.00 price objective on shares of Bio-Rad Laboratories in a report on Friday, August 16th. Citigroup raised shares of Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and increased their price target for the stock from $350.00 to $400.00 in a report on Tuesday, October 1st. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 target price on the stock. 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 an average price target of $368.20.

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.