Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Creative Planning

Creative Planning lowered its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 21.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,539 shares of the medical research company’s stock after selling 426 shares during the period. Creative Planning’s holdings in Bio-Rad Laboratories were worth $420,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BIO. Vanguard Group Inc. increased its stake 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 in the last quarter. Van ECK Associates Corp acquired a new position in Bio-Rad Laboratories during the second quarter valued at approximately $180,040,000. Select Equity Group L.P. boosted its position in Bio-Rad Laboratories by 26.2% during the 2nd quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after purchasing an additional 134,856 shares during the period. First Eagle Investment Management LLC grew its stake 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 buying an additional 634,311 shares in the last quarter. Finally, Earnest Partners LLC raised its stake in shares of Bio-Rad Laboratories by 17.8% during 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. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Trading Up 0.3 %

Shares of NYSE BIO opened at $342.16 on Wednesday. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $364.24. The company has a market cap of $9.76 billion, a price-to-earnings ratio of -33.03 and a beta of 0.95. The business has a fifty day simple moving average of $329.41 and a 200-day simple moving average of $306.82.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 earnings per share for the quarter, topping the consensus estimate 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 negative net margin of 51.73% and a positive return on equity of 3.77%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.00 EPS. Sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 9.45 EPS for the current year.

Insider Transactions at Bio-Rad Laboratories

In other news, EVP James Barry sold 623 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the sale, the executive vice president now directly owns 147 shares of the company’s stock, valued at $48,582.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 directly owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.06% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on BIO. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. 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 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $401.00 price target on shares of Bio-Rad Laboratories in a report on Friday, August 16th. Finally, Citigroup upgraded Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and lifted their target price 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.20.

About Bio-Rad Laboratories

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.