Giovanni Magni Sells 2,400 Shares of Bio-Rad Laboratories, Inc. (BIO) Stock
Bio-Rad Laboratories, Inc. (NYSE:BIO) EVP Giovanni Magni sold 2,400 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $253.01, for a total transaction of $607,224.00. Following the sale, the executive vice president now directly owns 9,251 shares of the company’s stock, valued at approximately $2,340,595.51. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Bio-Rad Laboratories, Inc. (NYSE:BIO) traded down $0.77 during mid-day trading on Friday, reaching $255.49. 129,090 shares of the company traded hands, compared to its average volume of 181,539. Bio-Rad Laboratories, Inc. has a fifty-two week low of $169.19 and a fifty-two week high of $268.40. The firm has a market capitalization of $7,504.68, a price-to-earnings ratio of 80.39, a PEG ratio of 3.82 and a beta of 0.88. The company has a current ratio of 4.06, a quick ratio of 2.77 and a debt-to-equity ratio of 0.15.
Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, November 2nd. The medical research company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.54 by $0.37. Bio-Rad Laboratories had a net margin of 1.15% and a return on equity of 3.44%. The business had revenue of $535.00 million during the quarter, compared to analyst estimates of $507.99 million. During the same period in the prior year, the business earned $0.62 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. equities analysts forecast that Bio-Rad Laboratories, Inc. will post 2.65 earnings per share for the current year.
Several research firms have commented on BIO. TheStreet upgraded shares of Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research report on Monday. Zacks Investment Research cut shares of Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $255.00 price objective on shares of Bio-Rad Laboratories in a report on Monday, September 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $260.00.
A number of hedge funds have recently added to or reduced their stakes in BIO. American Century Companies Inc. acquired a new stake in Bio-Rad Laboratories during the third quarter valued at approximately $125,820,000. FMR LLC lifted its position in shares of Bio-Rad Laboratories by 237.4% in the 2nd quarter. FMR LLC now owns 711,313 shares of the medical research company’s stock valued at $160,978,000 after acquiring an additional 500,513 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Bio-Rad Laboratories by 101.2% in the 2nd quarter. Royal Bank of Canada now owns 3,324 shares of the medical research company’s stock valued at $752,000 after acquiring an additional 281,264 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Bio-Rad Laboratories by 93.1% in the 2nd quarter. Wells Fargo & Company MN now owns 523,876 shares of the medical research company’s stock valued at $118,557,000 after acquiring an additional 252,643 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC lifted its position in shares of Bio-Rad Laboratories by 217.6% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 318,942 shares of the medical research company’s stock valued at $72,180,000 after acquiring an additional 218,512 shares in the last quarter. 64.27% of the stock is owned by institutional investors and hedge funds.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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