Paloma Partners Management Co Purchases 6,614 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Paloma Partners Management Co grew its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 350.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,500 shares of the medical research company's stock after acquiring an additional 6,614 shares during the quarter. Paloma Partners Management Co's holdings in Bio-Rad Laboratories were worth $2,844,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Bio-Rad Laboratories during the 3rd quarter worth about $479,000. Point72 Hong Kong Ltd bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter valued at about $55,000. Verition Fund Management LLC increased its position in Bio-Rad Laboratories by 193.3% during the 3rd quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company's stock valued at $1,161,000 after purchasing an additional 2,287 shares during the period. PEAK6 Investments LLC bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter valued at $956,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Bio-Rad Laboratories by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 441,098 shares of the medical research company's stock worth $147,583,000 after buying an additional 4,260 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup upped their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Royal Bank of Canada raised their target price 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 initiated 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 shares of 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $391.80.

Bio-Rad Laboratories Price Performance

NYSE BIO traded down $1.29 on Monday, hitting $339.24. The stock had a trading volume of 48,082 shares, compared to its average volume of 243,852. Bio-Rad Laboratories, Inc. has a 52-week low of $262.12 and a 52-week high of $387.99. The firm has a 50-day moving average of $340.77 and a 200-day moving average of $318.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of -12.35 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, beating the consensus estimate 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 company had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. During the same quarter last year, the firm earned $2.33 EPS. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current year.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were 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 approximately $2,494,016.46. This trade represents a 28.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Barry sold 623 shares of the firm's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the transaction, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. This trade represents a 80.91 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.06% of the company's stock.

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.