Harbor Capital Advisors Inc. Raises Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Harbor Capital Advisors Inc. boosted its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 104.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,503 shares of the medical research company's stock after acquiring an additional 3,840 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Bio-Rad Laboratories were worth $2,510,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. First Trust Direct Indexing L.P. acquired a new position in shares of Bio-Rad Laboratories during the third quarter worth $277,000. New York State Teachers Retirement System lifted its holdings in Bio-Rad Laboratories by 7.1% in the third quarter. New York State Teachers Retirement System now owns 17,300 shares of the medical research company's stock valued at $5,788,000 after acquiring an additional 1,142 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Bio-Rad Laboratories by 58.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 872 shares of the medical research company's stock valued at $292,000 after acquiring an additional 322 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Bio-Rad Laboratories by 341.7% during the 3rd quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the medical research company's stock valued at $1,773,000 after buying an additional 4,100 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Bio-Rad Laboratories in the 3rd quarter worth about $227,000. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock traded up $5.36 during trading on Tuesday, hitting $374.28. 189,111 shares of the company's stock traded hands, compared to its average volume of 248,520. The firm's fifty day moving average price is $335.10 and its 200 day moving average price is $309.32. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $376.38. The company has a market cap of $10.43 billion, a PE ratio of -13.69 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 4.52.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The company had revenue of $649.70 million during the quarter, compared to analyst estimates of $628.18 million. During the same period in the previous year, the company earned $2.33 EPS. The company's revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts forecast that Bio-Rad Laboratories, Inc. will post 9.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on BIO. StockNews.com raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Friday. Royal Bank of Canada lifted their price objective on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. 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. Finally, Citigroup boosted their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $391.80.

Insider Buying and Selling at Bio-Rad Laboratories

In other news, COO Andrew J. Last sold 3,000 shares of the company's 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the firm's 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 transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at approximately $2,494,016.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Barry sold 623 shares of the business's 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 owns 147 shares in the company, valued at $48,582.03. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.50% 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.