Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC lowered its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 29.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 192 shares of the medical research company’s stock after selling 80 shares during the quarter. LGT Financial Advisors LLC’s holdings in Bio-Rad Laboratories were worth $52,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BIO. Brio Consultants LLC purchased a new position in Bio-Rad Laboratories in the fourth quarter valued at $840,000. Victory Capital Management Inc. boosted its stake in Bio-Rad Laboratories by 48.7% during the 4th quarter. Victory Capital Management Inc. now owns 17,671 shares of the medical research company’s stock worth $5,706,000 after purchasing an additional 5,790 shares during the period. Natixis Advisors L.P. raised its stake in shares of Bio-Rad Laboratories by 17.9% during the fourth quarter. Natixis Advisors L.P. now owns 20,744 shares of the medical research company’s stock worth $6,698,000 after purchasing an additional 3,152 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Bio-Rad Laboratories by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,234 shares of the medical research company’s stock worth $69,174,000 after acquiring an additional 10,040 shares during the period. Finally, Gladius Capital Management LP boosted its holdings in Bio-Rad Laboratories by 65.8% in the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 0.6 %

Shares of Bio-Rad Laboratories stock opened at $333.05 on Friday. Bio-Rad Laboratories, Inc. has a 12-month low of $261.59 and a 12-month high of $384.37. The stock’s fifty day moving average is $312.33 and its 200-day moving average is $308.31. The firm has a market capitalization of $9.50 billion, a PE ratio of -32.15 and a beta of 0.93. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.99. The firm had revenue of $638.50 million during the quarter, compared to analyst estimates of $645.79 million. Bio-Rad Laboratories had a positive return on equity of 3.77% and a negative net margin of 51.73%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $3.00 EPS. Equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BIO shares. Royal Bank of Canada restated an “outperform” rating and issued a $401.00 price target on shares of Bio-Rad Laboratories in a report on Friday, August 16th. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group reissued a “hold” rating and issued a $315.00 target price (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. 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 for the company. Finally, Citigroup increased their price objective on shares of Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $358.20.

Insider Activity at Bio-Rad Laboratories

In other news, EVP James Barry sold 623 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the sale, the executive vice president now owns 147 shares in the company, valued at approximately $48,582.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP James Barry sold 623 shares of Bio-Rad Laboratories stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total value of $205,895.27. Following the transaction, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Crowley sold 369 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total value of $104,024.79. Following the transaction, the executive vice president now owns 6,573 shares of the company’s stock, valued at $1,852,994.43. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by company insiders.

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.