Assenagon Asset Management S.A. lessened its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 22.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,960 shares of the medical research company's stock after selling 12,372 shares during the quarter. Assenagon Asset Management S.A. owned about 0.15% of Bio-Rad Laboratories worth $14,039,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the business. Greenleaf Trust bought a new stake in Bio-Rad Laboratories during the 3rd quarter valued at approximately $202,000. Raymond James & Associates boosted its stake in Bio-Rad Laboratories by 8.6% during the 3rd quarter. Raymond James & Associates now owns 14,915 shares of the medical research company's stock valued at $4,990,000 after purchasing an additional 1,179 shares during the period. Blue Trust Inc. boosted its stake in Bio-Rad Laboratories by 22.9% during the 3rd quarter. Blue Trust Inc. now owns 1,056 shares of the medical research company's stock valued at $353,000 after purchasing an additional 197 shares during the period. Marathon Asset Management Ltd boosted its stake in Bio-Rad Laboratories by 0.5% during the 3rd quarter. Marathon Asset Management Ltd now owns 71,537 shares of the medical research company's stock valued at $23,934,000 after purchasing an additional 344 shares during the period. Finally, Paragon Capital Management Inc. boosted its stake in Bio-Rad Laboratories by 3.2% during the 3rd quarter. Paragon Capital Management Inc. now owns 4,944 shares of the medical research company's stock valued at $1,654,000 after purchasing an additional 151 shares during the period. Institutional investors own 65.24% of the company's stock.
Insider Transactions at Bio-Rad Laboratories
In other news, COO Andrew J. Last sold 3,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was 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 directly owns 7,559 shares of the company's stock, valued at approximately $2,494,016.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Andrew J. Last sold 3,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was 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 directly owns 7,559 shares of the company's stock, valued at approximately $2,494,016.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James Barry sold 623 shares of the firm's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the sale, the executive vice president now directly owns 147 shares of the company's stock, valued at $48,582.03. This 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 insiders.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on BIO. Wells Fargo & Company began coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an "equal weight" rating and a $340.00 target price for the company. Citigroup raised Bio-Rad Laboratories from a "neutral" rating to a "buy" rating and upped their price target for the company from $350.00 to $400.00 in a report on Tuesday, October 1st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $401.00 price target on shares of Bio-Rad Laboratories in a report on Friday, August 16th. Finally, StockNews.com cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $368.20.
Check Out Our Latest Stock Analysis on BIO
Bio-Rad Laboratories Price Performance
Shares of BIO traded down $7.85 during mid-day trading on Friday, reaching $320.23. The company had a trading volume of 197,864 shares, compared to its average volume of 248,697. Bio-Rad Laboratories, Inc. has a twelve month low of $261.59 and a twelve month high of $364.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.28 and a quick ratio of 4.63. The company's 50-day moving average is $331.37 and its 200-day moving average is $307.15. The company has a market capitalization of $9.13 billion, a P/E ratio of -30.91 and a beta of 0.95.
Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results on Thursday, August 1st. The medical research company reported $3.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.99. Bio-Rad Laboratories had a positive return on equity of 3.77% and a negative net margin of 51.73%. The business had revenue of $638.50 million during the quarter, compared to analysts' expectations of $645.79 million. During the same period in the prior year, the firm posted $3.00 EPS. Bio-Rad Laboratories's quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.45 EPS for the current year.
About Bio-Rad Laboratories
(
Free Report)
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.
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