Citigroup Inc. Sells 4,014 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Citigroup Inc. lowered its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 15.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,501 shares of the medical research company's stock after selling 4,014 shares during the period. Citigroup Inc. owned about 0.08% of Bio-Rad Laboratories worth $7,528,000 as of its most recent filing with the SEC.

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

Bio-Rad Laboratories Stock Up 0.6 %

Shares of BIO stock traded up $2.05 during midday trading on Friday, reaching $340.53. 78,237 shares of the stock were exchanged, compared to its average volume of 197,129. Bio-Rad Laboratories, Inc. has a 1 year low of $262.12 and a 1 year high of $387.99. The firm has a market cap of $9.53 billion, a PE ratio of -12.46 and a beta of 0.93. The company's 50 day moving average is $340.77 and its two-hundred day moving average is $317.92. 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 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 company 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 earned $2.33 earnings per share. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current year.

Analysts Set New Price Targets

BIO has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated 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 target on the stock. Citigroup boosted their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Royal Bank of Canada increased their price objective on Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Finally, StockNews.com raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $391.80.

Insider Activity at Bio-Rad Laboratories

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 transaction of $989,820.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Barry sold 623 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the transaction, the executive vice president now owns 147 shares in the company, 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. 17.06% of the stock is currently owned by corporate insiders.

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.