Bio-Rad Laboratories (NYSE:BIO) Stock Price Down 2.8% - Should You Sell?

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report)'s share price dropped 2.8% during mid-day trading on Wednesday . The stock traded as low as $332.50 and last traded at $332.51. Approximately 24,634 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 250,219 shares. The stock had previously closed at $342.16.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Citigroup raised shares of Bio-Rad Laboratories from a "neutral" rating to a "buy" rating and increased their target price for the company from $350.00 to $400.00 in a research report on Tuesday, October 1st. Wells Fargo & Company began coverage on Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an "equal weight" rating and a $340.00 target price on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $401.00 target price on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Finally, StockNews.com lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Bio-Rad Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $368.20.

Bio-Rad Laboratories Stock Performance

The stock has a market cap of $9.41 billion, a PE ratio of -31.85 and a beta of 0.95. The stock has a fifty day moving average of $329.64 and a 200-day moving average of $306.99. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.99. The company had revenue of $638.50 million during the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. Bio-Rad Laboratories's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.00 EPS. On average, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 9.45 EPS for the current year.

Insider Buying and Selling at Bio-Rad Laboratories

In other news, EVP James Barry sold 623 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 147 shares of the company's stock, valued at approximately $48,582.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO Andrew J. Last sold 3,000 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the sale, the chief operating officer now owns 7,559 shares of the company's stock, valued at approximately $2,494,016.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Barry sold 623 shares of the stock in a transaction dated Wednesday, September 4th. The shares were 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 directly owns 147 shares of the company's stock, valued at approximately $48,582.03. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bio-Rad Laboratories

Institutional investors and hedge funds have recently modified their holdings of the company. UMB Bank n.a. increased its holdings in 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 valued at $26,000 after acquiring an additional 45 shares in the last quarter. Capital Advisors Ltd. LLC raised its position 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 worth $26,000 after purchasing an additional 62 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $38,000. EntryPoint Capital LLC purchased a new stake in Bio-Rad Laboratories in the 1st quarter valued at approximately $51,000. Finally, Headlands Technologies LLC acquired a new stake in Bio-Rad Laboratories during the 2nd quarter valued at $51,000. Institutional investors and hedge funds own 65.24% 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.