Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 71.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,432 shares of the medical research company's stock after selling 23,190 shares during the period. Bank of Montreal Can's holdings in Bio-Rad Laboratories were worth $3,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BIO. Capital Advisors Ltd. LLC boosted its stake in shares of Bio-Rad Laboratories by 193.8% during the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company's stock valued at $26,000 after acquiring an additional 62 shares during the last quarter. UMB Bank n.a. boosted its position in Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company's stock worth $26,000 after acquiring an additional 45 shares during the last quarter. Gladius Capital Management LP purchased a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth $32,000. Headlands Technologies LLC purchased a new position in Bio-Rad Laboratories during the second quarter worth about $51,000. Finally, Quarry LP purchased a new stake in Bio-Rad Laboratories in the 2nd quarter valued at about $59,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the company'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 value of $989,820.00. Following the transaction, the chief operating officer now directly owns 7,559 shares of the company's stock, valued at $2,494,016.46. This represents a 28.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 17.06% of the stock is currently owned by corporate insiders.

Bio-Rad Laboratories Stock Down 4.8 %

Shares of BIO stock traded down $16.30 during trading hours on Thursday, reaching $322.15. The company had a trading volume of 144,965 shares, compared to its average volume of 243,584. The company has a market capitalization of $9.02 billion, a P/E ratio of -12.36 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99. The stock's fifty day simple moving average is $341.54 and its 200 day simple moving average is $318.75.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.85. The company had revenue of $649.70 million during the quarter, compared to the consensus estimate of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. Bio-Rad Laboratories's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $2.33 earnings per share. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIO has been the topic of several research analyst reports. Citigroup raised their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Royal Bank of Canada lifted their price target on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a report on Tuesday, August 27th. They set an "equal weight" rating and a $340.00 price objective for the company. Finally, StockNews.com raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $391.80.

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.