CIBC Asset Management Inc Reduces Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

CIBC Asset Management Inc trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 75.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 679 shares of the medical research company's stock after selling 2,037 shares during the period. CIBC Asset Management Inc's holdings in Bio-Rad Laboratories were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp increased its holdings in shares of Bio-Rad Laboratories by 97.8% in the third quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company's stock valued at $436,861,000 after purchasing an additional 644,530 shares during the last quarter. Select Equity Group L.P. grew its holdings in shares of Bio-Rad Laboratories by 26.2% in the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company's stock valued at $177,391,000 after purchasing an additional 134,856 shares during the period. First Eagle Investment Management LLC raised its stake in Bio-Rad Laboratories by 32,296.9% during the second 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 during the period. Earnest Partners LLC boosted its holdings in Bio-Rad Laboratories by 17.8% in the 2nd quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company's stock valued at $165,720,000 after purchasing an additional 91,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Bio-Rad Laboratories by 64.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company's stock valued at $135,081,000 after buying an additional 193,700 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BIO shares. Wells Fargo & Company started coverage on Bio-Rad Laboratories in a research report on Tuesday, August 27th. They issued an "equal weight" rating and a $340.00 price objective for the company. Royal Bank of Canada boosted their target price on Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Citigroup raised their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, StockNews.com raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $391.80.

Bio-Rad Laboratories Stock Up 2.3 %

NYSE:BIO traded up $7.33 during mid-day trading on Friday, reaching $332.91. 184,506 shares of the stock were exchanged, compared to its average volume of 217,893. Bio-Rad Laboratories, Inc. has a 1 year low of $262.12 and a 1 year high of $387.99. The company has a 50 day simple moving average of $340.52 and a 200-day simple moving average of $315.68. 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 (NYSE:BIO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share 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 during the quarter, compared to analysts' expectations of $628.18 million. During the same quarter in the prior year, the business earned $2.33 EPS. Bio-Rad Laboratories's quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Bio-Rad Laboratories, Inc. will post 9.93 earnings per share 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 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 completion of the transaction, the chief operating officer now owns 7,559 shares in the company, valued at approximately $2,494,016.46. This represents a 28.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Barry sold 623 shares of the company'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 directly owns 147 shares in the company, valued at approximately $48,582.03. This trade represents a 80.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.06% of the company's stock.

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.