Charles Schwab Investment Management Inc. Lowers Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Charles Schwab Investment Management Inc. reduced its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 20.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,315 shares of the medical research company's stock after selling 46,341 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.66% of Bio-Rad Laboratories worth $61,668,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BIO. Price T Rowe Associates Inc. MD grew its holdings in shares of Bio-Rad Laboratories by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,582 shares of the medical research company's stock worth $15,421,000 after purchasing an additional 748 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Bio-Rad Laboratories by 0.4% during the first quarter. California State Teachers Retirement System now owns 32,398 shares of the medical research company's stock valued at $11,205,000 after acquiring an additional 131 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Bio-Rad Laboratories by 11.2% during the first quarter. Tidal Investments LLC now owns 3,650 shares of the medical research company's stock worth $1,262,000 after purchasing an additional 367 shares during the period. Swedbank AB bought a new stake in shares of Bio-Rad Laboratories in the first quarter worth about $1,824,000. Finally, Cetera Advisors LLC bought a new position in Bio-Rad Laboratories during the 1st quarter valued at approximately $404,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Insiders Place Their Bets

In other news, COO Andrew J. Last sold 3,000 shares of the firm's stock in a transaction 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 in the company, valued at $2,494,016.46. This trade represents a 28.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP James Barry sold 623 shares of the business'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 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 disclosure for this sale can be found here. 17.06% of the stock is owned by insiders.

Bio-Rad Laboratories Stock Up 0.6 %

Shares of NYSE BIO traded up $2.05 during trading on Friday, reaching $340.53. The company had a trading volume of 78,237 shares, compared to its average volume of 244,710. The stock has a market cap of $9.53 billion, a PE ratio of -12.46 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 12-month low of $262.12 and a 12-month high of $387.99. The business's 50-day moving average is $340.77 and its 200 day moving average is $317.76.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released 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. 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 for the quarter, compared to analysts' expectations of $628.18 million. During the same period in the prior year, the firm posted $2.33 EPS. The firm's quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Friday, November 1st. 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 boosted their price target on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company began 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 objective for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Bio-Rad Laboratories has an average rating of "Moderate Buy" and an average 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.