Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,755 shares of the medical research company’s stock after buying an additional 795 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bio-Rad Laboratories were worth $2,929,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at about $422,000. Mawer Investment Management Ltd. boosted its position in 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 worth $72,900,000 after purchasing an additional 84,237 shares in the last quarter. Swiss National Bank grew its holdings in Bio-Rad Laboratories by 0.7% in the third quarter. Swiss National Bank now owns 59,100 shares of the medical research company’s stock valued at $19,774,000 after purchasing an additional 400 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Bio-Rad Laboratories by 446.5% in the third quarter. Thrivent Financial for Lutherans now owns 4,498 shares of the medical research company’s stock valued at $1,505,000 after buying an additional 3,675 shares in the last quarter. Finally, Gladius Capital Management LP acquired a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insiders Place Their Bets

In related news, EVP James Barry sold 623 shares of the company’s stock in a transaction dated 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 owns 147 shares of the company’s stock, valued at approximately $48,582.03. This represents a 80.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 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 28.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bio-Rad Laboratories Stock Performance

BIO opened at $336.09 on Tuesday. The firm has a market capitalization of $9.41 billion, a PE ratio of -12.30 and a beta of 0.93. The company has a current ratio of 6.14, a quick ratio of 4.52 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 firm’s 50-day moving average price is $340.63 and its 200 day moving average price is $316.68.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results 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 business had revenue of $649.70 million during the quarter, compared to analyst estimates of $628.18 million. During the same period in the prior year, the business earned $2.33 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current fiscal year.

Bio-Rad Laboratories Company 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.