RK Asset Management LLC Invests $5.20 Million in Bio-Rad Laboratories, Inc. (NYSE:BIO)

RK Asset Management LLC purchased a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 15,537 shares of the medical research company's stock, valued at approximately $5,198,000. Bio-Rad Laboratories makes up 4.0% of RK Asset Management LLC's portfolio, making the stock its 15th biggest holding. RK Asset Management LLC owned about 0.05% of Bio-Rad Laboratories as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of BIO. Vanguard Group Inc. increased its holdings in shares of Bio-Rad Laboratories by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,421,334 shares of the medical research company's stock valued at $837,467,000 after acquiring an additional 31,445 shares in the last quarter. Van ECK Associates Corp bought a new stake in Bio-Rad Laboratories during the 2nd quarter valued at about $180,040,000. Select Equity Group L.P. raised its holdings in 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 worth $177,391,000 after buying an additional 134,856 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Bio-Rad Laboratories by 32,296.9% in 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 buying an additional 634,311 shares in the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of Bio-Rad Laboratories by 17.8% during the second quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company's stock valued at $165,720,000 after buying an additional 91,882 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock traded down $2.68 on Monday, reaching $341.02. The stock had a trading volume of 178,443 shares, compared to its average volume of 254,285. The stock has a market cap of $9.73 billion, a P/E ratio of -32.92 and a beta of 0.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.63 and a current ratio of 6.28. Bio-Rad Laboratories, Inc. has a 1 year low of $261.59 and a 1 year high of $366.30. The company has a 50 day simple moving average of $328.99 and a 200 day simple moving average of $307.11.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.99. The business had revenue of $638.50 million during the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a positive return on equity of 3.77% and a negative net margin of 51.73%. The business's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.00 EPS. Equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BIO. 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 objective for the company. Royal Bank of Canada restated an "outperform" rating and issued a $401.00 price target on shares of Bio-Rad Laboratories in a research note on Friday, August 16th. Citigroup raised Bio-Rad Laboratories from a "neutral" rating to a "buy" rating and increased their price objective for the company from $350.00 to $400.00 in a research report on Tuesday, October 1st. Finally, StockNews.com lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $368.20.

Insider Buying and Selling at Bio-Rad Laboratories

In other news, EVP James Barry sold 623 shares of the business's stock in a transaction on 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 sale, the executive vice president now owns 147 shares of the company's stock, valued at $48,582.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Andrew J. Last sold 3,000 shares of the 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 sale, the chief operating officer now directly owns 7,559 shares of the company's stock, valued at $2,494,016.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Barry sold 623 shares of Bio-Rad Laboratories stock in a transaction on Wednesday, September 4th. The shares were 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 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.06% of the stock is 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.