Glenmede Trust Co. NA Takes Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Glenmede Trust Co. NA acquired a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,050 shares of the medical research company’s stock, valued at approximately $351,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Eagle Investment Management LLC increased its holdings in shares of 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 valued at $173,773,000 after acquiring an additional 634,311 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Bio-Rad Laboratories by 95.6% during the third quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock valued at $14,836,000 after buying an additional 21,669 shares during the last quarter. Mawer Investment Management Ltd. boosted its position in shares of Bio-Rad Laboratories by 63.0% during the third quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock valued at $72,900,000 after buying an additional 84,237 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Bio-Rad Laboratories by 341.7% during the third quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the medical research company’s stock valued at $1,773,000 after buying an additional 4,100 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of Bio-Rad Laboratories by 3.9% during the third quarter. Westfield Capital Management Co. LP now owns 252,769 shares of the medical research company’s stock valued at $84,571,000 after buying an additional 9,584 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 1.7 %

BIO stock opened at $337.82 on Thursday. Bio-Rad Laboratories, Inc. has a 1-year low of $262.12 and a 1-year high of $387.99. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $341.10 and its two-hundred day simple moving average is $318.62. The stock has a market cap of $9.46 billion, a P/E ratio of -12.36 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 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 firm had revenue of $649.70 million for the quarter, compared to analysts’ expectations of $628.18 million. During the same quarter in the prior year, the firm earned $2.33 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current year.

Insider Activity

In other news, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $2,494,016.46. This represents a 28.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

BIO has been the topic of several analyst reports. Citigroup lifted their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada lifted their target price on Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company started coverage on Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 target price on the stock. Finally, StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $391.80.

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.