DekaBank Deutsche Girozentrale Increases Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

DekaBank Deutsche Girozentrale grew its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 26.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,587 shares of the medical research company’s stock after acquiring an additional 3,252 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Bio-Rad Laboratories were worth $4,228,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC increased its holdings in shares of Bio-Rad Laboratories by 193.8% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 62 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Bio-Rad Laboratories in the 1st quarter valued at $38,000. Principal Securities Inc. purchased a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at $41,000. EntryPoint Capital LLC purchased a new position in shares of Bio-Rad Laboratories in the 1st quarter valued at $51,000. Finally, Parallel Advisors LLC boosted its position in shares of Bio-Rad Laboratories by 36.8% in the 4th quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after purchasing an additional 46 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $333.66 on Wednesday. The stock has a 50-day moving average of $319.89 and a two-hundred day moving average of $307.37. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $377.88. 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 stock has a market cap of $9.52 billion, a P/E ratio of -32.21 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.99. The company had revenue of $638.50 million during 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 firm’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.00 EPS. As a group, research analysts predict that Bio-Rad Laboratories, Inc. will post 10.31 EPS for the current year.

Insider Activity

In other news, COO Andrew J. Last sold 3,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,494,016.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, 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 transaction, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction dated Friday, September 6th. The shares were 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 of the company’s stock, valued at approximately $2,494,016.46. The disclosure for this sale can be found here. Insiders own 17.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Jefferies Financial Group reissued a “hold” rating and issued a $315.00 price objective (down previously from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $401.00 price objective on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective for the company. Citigroup raised their price objective on Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $358.20.

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.