Sumitomo Mitsui Trust Group Inc. Trims Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 18.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,964 shares of the medical research company's stock after selling 8,426 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.14% of Bio-Rad Laboratories worth $12,702,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its stake in Bio-Rad Laboratories by 32,296.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company's stock worth $173,773,000 after purchasing an additional 634,311 shares in the last quarter. Swedbank AB purchased a new position in Bio-Rad Laboratories in the 1st quarter worth approximately $1,824,000. Gabelli Funds LLC lifted its stake in Bio-Rad Laboratories by 16.8% in the 1st quarter. Gabelli Funds LLC now owns 41,800 shares of the medical research company's stock worth $14,457,000 after purchasing an additional 6,000 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Bio-Rad Laboratories by 95.6% in the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company's stock worth $14,836,000 after purchasing an additional 21,669 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Bio-Rad Laboratories by 320.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,663 shares of the medical research company's stock worth $1,000,000 after purchasing an additional 2,792 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Trading Down 2.2 %

NYSE BIO traded down $7.16 on Monday, reaching $313.15. The stock had a trading volume of 311,950 shares, compared to its average volume of 246,494. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of -11.46 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 stock has a fifty day moving average price of $340.28 and a two-hundred day moving average price of $314.91.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.85. The company had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 earnings per share. As a group, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 9.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BIO has been the topic of a number of research reports. StockNews.com raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an "equal weight" rating and a $340.00 price target on the stock. 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 research report on Thursday, October 31st. Finally, Citigroup lifted their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Two 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 price target of $391.80.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief operating officer now owns 7,559 shares in the company, valued at $2,494,016.46. The trade was a 28.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP James Barry sold 623 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the transaction, the executive vice president now owns 147 shares of the company's stock, valued at approximately $48,582.03. The trade was 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 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.