Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 29.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,793 shares of the medical research company’s stock after buying an additional 1,767 shares during the quarter. Cerity Partners LLC’s holdings in Bio-Rad Laboratories were worth $2,607,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC raised its position 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 purchasing an additional 62 shares during the last quarter. UMB Bank n.a. raised its holdings 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 worth $26,000 after buying an additional 45 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Bio-Rad Laboratories during the third quarter worth $32,000. Headlands Technologies LLC purchased a new stake in shares of Bio-Rad Laboratories during the second quarter valued at $51,000. Finally, Quarry LP acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter valued at $59,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Activity

In related news, EVP James Barry sold 623 shares of Bio-Rad Laboratories 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 sale, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. This trade represents a 80.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction 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 owns 7,559 shares of the company’s stock, valued at $2,494,016.46. This represents a 28.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Stock Up 0.6 %

Shares of BIO stock opened at $340.53 on Friday. 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 stock has a 50 day moving average of $340.77 and a 200 day moving average of $317.76. The stock has a market cap of $9.53 billion, a P/E ratio of -12.46 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The firm had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. During the same period in the prior year, the firm posted $2.33 earnings per share. The firm’s quarterly 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 year.

Analysts Set New Price Targets

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