State of Alaska Department of Revenue Reduces Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

State of Alaska Department of Revenue decreased its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,224 shares of the medical research company’s stock after selling 40 shares during the period. State of Alaska Department of Revenue’s holdings in Bio-Rad Laboratories were worth $744,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its holdings in Bio-Rad Laboratories by 193.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after purchasing an additional 62 shares in the last quarter. UMB Bank n.a. lifted its holdings in 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 worth $26,000 after purchasing an additional 45 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Bio-Rad Laboratories during the 1st quarter worth about $51,000. Headlands Technologies LLC purchased a new stake in Bio-Rad Laboratories during the 2nd quarter worth about $51,000. Finally, Quarry LP purchased a new stake in Bio-Rad Laboratories during the 2nd quarter worth about $59,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $372.77 on Thursday. The stock has a market cap of $10.39 billion, a P/E ratio of -13.69 and a beta of 0.93. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99. The business’s 50-day moving average price is $336.19 and its two-hundred day moving average price is $309.99.

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 for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. The company had revenue of $649.70 million for the quarter, compared to analysts’ expectations of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. Bio-Rad Laboratories’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $2.33 EPS. As a group, equities analysts predict that Bio-Rad Laboratories, Inc. will post 9.93 EPS for the current fiscal year.

Insider Activity at Bio-Rad Laboratories

In related news, COO Andrew J. Last sold 3,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Andrew J. Last sold 3,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $205,895.27. Following the transaction, the executive vice president now owns 147 shares in the company, valued at approximately $48,582.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.