Daiwa Securities Group Inc. Has $549,000 Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Daiwa Securities Group Inc. trimmed its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 27.4% in the third quarter, Holdings Channel.com reports. The firm owned 1,641 shares of the medical research company’s stock after selling 620 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Bio-Rad Laboratories were worth $549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its stake 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 worth $26,000 after buying an additional 62 shares during the last quarter. UMB Bank n.a. boosted its holdings 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 in the last quarter. Gladius Capital Management LP bought a new stake in Bio-Rad Laboratories during the 3rd quarter worth $32,000. Headlands Technologies LLC acquired a new position in Bio-Rad Laboratories in the 2nd quarter worth about $51,000. Finally, Quarry LP bought a new position in Bio-Rad Laboratories in the second quarter valued at about $59,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company began coverage on Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective for the company. Finally, Citigroup lifted their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $391.80.

Insider Transactions at Bio-Rad Laboratories

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 transaction, the executive vice president now directly owns 147 shares of the company’s stock, valued at approximately $48,582.03. This represents a 80.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew J. Last sold 3,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was 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. The trade was a 28.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Price Performance

BIO stock opened at $340.53 on Friday. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of -12.46 and a beta of 0.93. The company’s fifty day simple moving average is $340.77 and its 200 day simple moving average is $317.76. Bio-Rad Laboratories, Inc. has a 12-month low of $262.12 and a 12-month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The company had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. During the same period in the previous year, the business earned $2.33 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

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.