Bio-Rad Laboratories, Inc. (BIO) Shares Sold by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,029 shares of the medical research company’s stock after selling 335 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Bio-Rad Laboratories were worth $1,340,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC grew its position in Bio-Rad Laboratories by 0.4% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 3,596 shares of the medical research company’s stock valued at $514,000 after acquiring an additional 13 shares in the last quarter. World Asset Management Inc boosted its stake in shares of Bio-Rad Laboratories by 1.4% in the second quarter. World Asset Management Inc now owns 1,025 shares of the medical research company’s stock valued at $232,000 after purchasing an additional 14 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Bio-Rad Laboratories by 1.8% in the second quarter. Teacher Retirement System of Texas now owns 1,666 shares of the medical research company’s stock valued at $377,000 after purchasing an additional 29 shares during the period. US Bancorp DE grew its holdings in shares of Bio-Rad Laboratories by 0.8% in the second quarter. US Bancorp DE now owns 4,224 shares of the medical research company’s stock valued at $956,000 after purchasing an additional 34 shares in the last quarter. Finally, Martin & Co. Inc. TN grew its holdings in shares of Bio-Rad Laboratories by 0.6% in the second quarter. Martin & Co. Inc. TN now owns 6,825 shares of the medical research company’s stock valued at $1,545,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 63.88% of the company’s stock.
In related news, EVP Giovanni Magni sold 2,400 shares of Bio-Rad Laboratories stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $253.01, for a total value of $607,224.00. Following the completion of the transaction, the executive vice president now owns 9,251 shares in the company, valued at $2,340,595.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.29% of the stock is owned by company insiders.
Shares of Bio-Rad Laboratories, Inc. (NYSE BIO) opened at $269.58 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.06 and a quick ratio of 2.77. The stock has a market capitalization of $7,836.60, a PE ratio of 83.59, a price-to-earnings-growth ratio of 3.97 and a beta of 0.88. Bio-Rad Laboratories, Inc. has a 12-month low of $172.24 and a 12-month high of $272.03.
Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.37. Bio-Rad Laboratories had a return on equity of 3.44% and a net margin of 1.15%. The business had revenue of $535.00 million during the quarter, compared to the consensus estimate of $507.99 million. During the same period in the previous year, the company posted $0.62 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. equities research analysts expect that Bio-Rad Laboratories, Inc. will post 2.65 earnings per share for the current fiscal year.
Bio-Rad Laboratories declared that its board has approved a stock repurchase plan on Tuesday, November 28th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Deutsche Bank restated a “buy” rating and issued a $255.00 price target on shares of Bio-Rad Laboratories in a research note on Monday, September 18th. TheStreet lowered Bio-Rad Laboratories from a “b” rating to a “c+” rating in a research report on Thursday, August 3rd. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $290.00 price objective (up from $250.00) on shares of Bio-Rad Laboratories in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $273.33.
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Bio-Rad Laboratories Profile
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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