Massachusetts Financial Services Co. MA Has $18.12 Million Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Massachusetts Financial Services Co. MA cut its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 84.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,163 shares of the medical research company’s stock after selling 294,377 shares during the period. Massachusetts Financial Services Co. MA owned 0.19% of Bio-Rad Laboratories worth $18,122,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BIO. 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 during the last quarter. UMB Bank n.a. boosted its position in shares of Bio-Rad Laboratories by 140.6% in the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 45 shares during the period. Gladius Capital Management LP acquired a new position in shares of Bio-Rad Laboratories in the third quarter valued at about $32,000. Headlands Technologies LLC bought a new position in Bio-Rad Laboratories during the second quarter worth about $51,000. Finally, Quarry LP bought a new position in Bio-Rad Laboratories during the second quarter worth about $59,000. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 1.0 %

NYSE BIO opened at $336.09 on Tuesday. The business has a fifty day moving average price of $340.63 and a two-hundred day moving average price of $316.68. The stock has a market capitalization of $9.41 billion, a PE ratio of -12.30 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a fifty-two week low of $262.12 and a fifty-two week high of $387.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52.

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, topping the consensus estimate 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 the consensus estimate of $628.18 million. During the same period in the prior year, the company earned $2.33 EPS. Bio-Rad Laboratories’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current fiscal year.

Insider Activity

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the 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 directly owns 7,559 shares in the company, valued at approximately $2,494,016.46. This trade represents a 28.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Barry sold 623 shares of Bio-Rad Laboratories 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 sale, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. The trade was a 80.91 % 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 corporate insiders.

Wall Street Analysts Forecast Growth

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