Massachusetts Financial Services Co. MA Has $18.12 Million Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Massachusetts Financial Services Co. MA decreased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 84.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,163 shares of the medical research company's stock after selling 294,377 shares during the period. Massachusetts Financial Services Co. MA owned 0.19% of Bio-Rad Laboratories worth $18,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BIO. Capital Advisors Ltd. LLC lifted its holdings in shares of 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 buying an additional 62 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Bio-Rad Laboratories by 140.6% during the 3rd 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 bought a new position in shares of Bio-Rad Laboratories during the 3rd quarter valued at $32,000. Headlands Technologies LLC bought a new stake in Bio-Rad Laboratories in the second quarter worth $51,000. Finally, Quarry LP bought a new position in Bio-Rad Laboratories during the second quarter valued at about $59,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock traded up $2.15 during mid-day trading on Tuesday, reaching $338.24. The company had a trading volume of 167,708 shares, compared to its average volume of 245,949. The company has a 50 day moving average of $340.63 and a 200-day moving average of $316.68. Bio-Rad Laboratories, Inc. has a 52 week low of $262.12 and a 52 week high of $387.99. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of -12.36 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data 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. 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%. Bio-Rad Laboratories's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 EPS. On average, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Bio-Rad Laboratories news, 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 transaction of $205,895.27. Following the transaction, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. The trade was a 28.41 % decrease in their position. The disclosure for this sale can be found here. 17.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BIO has been the topic of several analyst reports. Royal Bank of Canada increased their price target on Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Citigroup lifted their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They set an "equal weight" rating and a $340.00 price target for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $391.80.

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.