Swedbank AB Has $1.63 Million Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Swedbank AB decreased its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,860 shares of the medical research company’s stock after selling 414 shares during the quarter. Swedbank AB’s holdings in Bio-Rad Laboratories were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BIO. Capital Advisors Ltd. LLC lifted its stake in Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after buying an additional 62 shares during the period. UMB Bank n.a. raised its position in shares of Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after purchasing an additional 45 shares during the period. Gladius Capital Management LP acquired a new stake in shares of Bio-Rad Laboratories during the third quarter worth about $32,000. Headlands Technologies LLC acquired a new stake in shares of Bio-Rad Laboratories during the second quarter worth about $51,000. Finally, Quarry LP acquired a new stake in shares of Bio-Rad Laboratories during the second quarter worth about $59,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 0.3 %

NYSE:BIO opened at $338.68 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. The company has a market cap of $9.48 billion, a PE ratio of -12.39 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 52-week low of $262.12 and a 52-week high of $387.99. The stock has a 50-day simple moving average of $340.72 and a 200 day simple moving average of $317.08.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. The firm had revenue of $649.70 million during the quarter, compared to the consensus estimate of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $2.33 earnings per share. On average, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current fiscal year.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the firm’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 directly owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 28.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Barry sold 623 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. This represents a 80.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BIO. Citigroup raised their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price target on the stock. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada increased their price objective on Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $391.80.

Bio-Rad Laboratories Company 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.