Ballentine Partners LLC Invests $227,000 in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Ballentine Partners LLC bought a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the third quarter, Holdings Channel reports. The institutional investor bought 679 shares of the medical research company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIO. Vanguard Group Inc. lifted its stake in Bio-Rad Laboratories by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,421,334 shares of the medical research company’s stock valued at $837,467,000 after buying an additional 31,445 shares in the last quarter. Van ECK Associates Corp bought a new stake in Bio-Rad Laboratories during the second quarter worth $180,040,000. Select Equity Group L.P. raised its position 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 during the period. First Eagle Investment Management LLC raised its position 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 valued at $173,773,000 after purchasing an additional 634,311 shares during the period. Finally, Earnest Partners LLC raised its position in shares of Bio-Rad Laboratories by 17.8% in the second quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock valued at $165,720,000 after purchasing an additional 91,882 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

BIO has been the topic of a number of recent research reports. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report 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 note on Friday, August 16th. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price objective on the stock. Finally, Citigroup upgraded shares of Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and raised their price target for the company from $350.00 to $400.00 in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $368.20.

Bio-Rad Laboratories Trading Up 0.9 %

BIO opened at $331.64 on Wednesday. The company’s 50 day moving average is $331.68 and its 200-day moving average is $307.49. The company has a market cap of $9.46 billion, a P/E ratio of -32.01 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 1-year low of $261.59 and a 1-year high of $364.24. The company has a current ratio of 6.28, a quick ratio of 4.63 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO) last issued 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 business had revenue of $638.50 million during the quarter, compared to analyst estimates 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 firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business earned $3.00 EPS. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 9.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the firm’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Barry sold 623 shares of the firm’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 transaction, 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 disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

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.