Veritas Asset Management LLP Has $363.51 Million Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Veritas Asset Management LLP lowered its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 3.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,086,479 shares of the medical research company's stock after selling 42,332 shares during the period. Bio-Rad Laboratories accounts for 2.7% of Veritas Asset Management LLP's portfolio, making the stock its 17th biggest holding. Veritas Asset Management LLP owned about 3.81% of Bio-Rad Laboratories worth $363,514,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BIO. First Eagle Investment Management LLC lifted its stake in Bio-Rad Laboratories by 32,296.9% during the second quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company's stock valued at $173,773,000 after buying an additional 634,311 shares in the last quarter. Swedbank AB bought a new position in Bio-Rad Laboratories during the first quarter valued at approximately $1,824,000. DAVENPORT & Co LLC bought a new position in Bio-Rad Laboratories during the first quarter valued at approximately $15,340,000. Gabelli Funds LLC raised its position in Bio-Rad Laboratories by 16.8% during the first quarter. Gabelli Funds LLC now owns 41,800 shares of the medical research company's stock valued at $14,457,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new position in Bio-Rad Laboratories during the first quarter valued at approximately $567,000. Institutional investors own 65.24% of the company's stock.

Insider Buying and Selling

In related news, COO Andrew J. Last sold 3,000 shares of the business's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Bio-Rad Laboratories news, 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 sale, the executive vice president now owns 147 shares in the company, valued at $48,582.03. 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, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction 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 sale, the chief operating officer now owns 7,559 shares in the company, valued at $2,494,016.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by insiders.

Bio-Rad Laboratories Stock Performance

BIO stock traded up $10.23 on Friday, reaching $368.42. 284,333 shares of the company were exchanged, compared to its average volume of 191,071. Bio-Rad Laboratories, Inc. has a 12 month low of $262.12 and a 12 month high of $372.27. The stock's fifty day moving average price is $333.99 and its 200 day moving average price is $308.58. The firm has a market capitalization of $10.27 billion, a PE ratio of -13.48 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.63.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The business had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. During the same quarter in the previous year, the firm posted $2.33 earnings per share. Bio-Rad Laboratories's revenue was up 2.8% compared to the same quarter last year. On average, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Friday. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a research report on Tuesday, August 27th. They issued an "equal weight" rating and a $340.00 price target on the stock. Citigroup lifted their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an "outperform" rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Bio-Rad Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $391.80.

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.