Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 16.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,931 shares of the medical research company's stock after selling 1,742 shares during the quarter. Truist Financial Corp's holdings in Bio-Rad Laboratories were worth $2,439,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Bio-Rad Laboratories by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,421,334 shares of the medical research company's stock worth $837,467,000 after purchasing an additional 31,445 shares during the period. Van ECK Associates Corp acquired a new position in Bio-Rad Laboratories during the second quarter valued at approximately $180,040,000. Select Equity Group L.P. grew its stake in Bio-Rad Laboratories by 26.2% during 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 period. First Eagle Investment Management LLC increased its position 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 acquiring an additional 634,311 shares in the last quarter. Finally, Earnest Partners LLC raised its stake in shares of 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 acquiring an additional 91,882 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Bio-Rad Laboratories

In other Bio-Rad Laboratories 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 transaction, the executive vice president now owns 147 shares of the company's stock, valued at $48,582.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the company's stock in a transaction dated 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 transaction, the chief operating officer now owns 7,559 shares in the company, valued at approximately $2,494,016.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value 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 $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 currently owned by corporate insiders.

Bio-Rad Laboratories Stock Up 1.1 %

Shares of NYSE BIO traded up $3.52 during midday trading on Friday, reaching $336.92. 157,405 shares of the company's stock were exchanged, compared to its average volume of 252,456. 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 52-week low of $261.59 and a 52-week high of $364.24. The business's fifty day moving average price is $328.82 and its two-hundred day moving average price is $307.44. The stock has a market capitalization of $9.61 billion, a PE ratio of -32.52 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.99. The company had revenue of $638.50 million for 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%. Bio-Rad Laboratories's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.00 EPS. Analysts forecast that Bio-Rad Laboratories, Inc. will post 9.45 EPS for the current year.

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.