Bio-Rad Laboratories, Inc. (BIO) Shares Sold by Granahan Investment Management Inc. MA
Granahan Investment Management Inc. MA trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 17.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,350 shares of the medical research company’s stock after selling 6,705 shares during the quarter. Granahan Investment Management Inc. MA owned about 0.11% of Bio-Rad Laboratories worth $7,189,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Bio-Rad Laboratories by 0.3% in the second quarter. BlackRock Inc. now owns 1,738,431 shares of the medical research company’s stock worth $393,424,000 after purchasing an additional 5,320 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Bio-Rad Laboratories by 0.4% in the second quarter. Vanguard Group Inc. now owns 1,679,405 shares of the medical research company’s stock worth $380,067,000 after purchasing an additional 6,131 shares during the last quarter. FMR LLC raised its stake in shares of Bio-Rad Laboratories by 237.4% in the second quarter. FMR LLC now owns 711,313 shares of the medical research company’s stock worth $160,978,000 after purchasing an additional 500,513 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Bio-Rad Laboratories by 7.0% in the third quarter. TimesSquare Capital Management LLC now owns 665,100 shares of the medical research company’s stock worth $147,799,000 after purchasing an additional 43,450 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of Bio-Rad Laboratories in the third quarter worth about $125,820,000. Hedge funds and other institutional investors own 63.91% of the company’s stock.
Bio-Rad Laboratories, Inc. (BIO) opened at $253.18 on Tuesday. The company has a current ratio of 4.06, a quick ratio of 2.77 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $7,591.95, a P/E ratio of 80.98, a P/E/G ratio of 3.81 and a beta of 0.97. Bio-Rad Laboratories, Inc. has a 12-month low of $177.68 and a 12-month high of $273.87.
Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, November 2nd. The medical research company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.37. The company had revenue of $535.00 million during the quarter, compared to analysts’ expectations of $507.99 million. Bio-Rad Laboratories had a return on equity of 3.44% and a net margin of 1.15%. Bio-Rad Laboratories’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. equities analysts predict that Bio-Rad Laboratories, Inc. will post 2.68 EPS for the current year.
Bio-Rad Laboratories announced that its Board of Directors 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other Bio-Rad Laboratories news, EVP Giovanni Magni sold 2,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $253.01, for a total value of $607,224.00. Following the sale, the executive vice president now directly owns 9,251 shares of the company’s stock, valued at $2,340,595.51. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Crowley sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $258.39, for a total value of $258,390.00. Following the completion of the sale, the executive vice president now directly owns 2,492 shares in the company, valued at $643,907.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,146 shares of company stock valued at $1,067,414. 28.29% of the stock is owned by company insiders.
Several research analysts recently weighed in on BIO shares. TheStreet upgraded Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Deutsche Bank reiterated a “buy” rating and set a $255.00 price target on shares of Bio-Rad Laboratories in a research report on Monday, September 18th. Zacks Investment Research upgraded Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $290.00 price target (up from $250.00) on shares of Bio-Rad Laboratories in a research report on Wednesday, November 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Bio-Rad Laboratories presently has an average 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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