Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 50.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 992 shares of the medical research company’s stock after selling 1,010 shares during the quarter. First Hawaiian Bank’s holdings in Bio-Rad Laboratories were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Bio-Rad Laboratories by 37.2% in the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the medical research company’s stock worth $88,000 after acquiring an additional 87 shares during the period. Cetera Advisors LLC purchased a new position in Bio-Rad Laboratories during the first quarter worth about $404,000. Swedbank AB acquired a new stake in Bio-Rad Laboratories in the first quarter valued at about $1,824,000. Wahed Invest LLC lifted its position in Bio-Rad Laboratories by 14.0% in the first quarter. Wahed Invest LLC now owns 399 shares of the medical research company’s stock valued at $138,000 after purchasing an additional 49 shares during the period. Finally, Tidal Investments LLC boosted its holdings in Bio-Rad Laboratories by 11.2% in the 1st quarter. Tidal Investments LLC now owns 3,650 shares of the medical research company’s stock valued at $1,262,000 after purchasing an additional 367 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

BIO traded up $3.54 during trading on Tuesday, reaching $332.22. 110,648 shares of the stock were exchanged, compared to its average volume of 228,165. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.57 and a quick ratio of 4.89. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of -31.71 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 1 year low of $261.59 and a 1 year high of $406.44. The business’s 50 day moving average price is $294.03 and its two-hundred day moving average price is $307.87.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results 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 business had revenue of $638.50 million during the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a positive return on equity of 3.56% and a negative net margin of 51.73%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.00 EPS. As a group, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. UBS Group cut their target price on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Citigroup increased their price objective on Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a research report on Friday. Jefferies Financial Group restated a “hold” rating and set a $315.00 target price (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada reduced their price objective on shares of Bio-Rad Laboratories from $402.00 to $401.00 and set an “outperform” rating for the company in a research note on Friday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $395.20.

Insider Buying and Selling at Bio-Rad Laboratories

In other news, EVP Michael Crowley sold 369 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $281.91, for a total transaction of $104,024.79. Following the completion of the transaction, the executive vice president now directly owns 6,573 shares of the company’s stock, valued at approximately $1,852,994.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 17.06% of the company’s stock.

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.