Bio-Rad Laboratories, Inc. (BIO) CFO Christine A. Tsingos Sells 4,980 Shares
Bio-Rad Laboratories, Inc. (NYSE:BIO) CFO Christine A. Tsingos sold 4,980 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $249.40, for a total value of $1,242,012.00. Following the completion of the transaction, the chief financial officer now owns 7,283 shares in the company, valued at approximately $1,816,380.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Bio-Rad Laboratories, Inc. (NYSE BIO) traded down $1.99 during mid-day trading on Thursday, reaching $249.72. The company’s stock had a trading volume of 115,155 shares, compared to its average volume of 179,241. The company has a quick ratio of 2.77, a current ratio of 4.06 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7,540.46, a price-to-earnings ratio of 80.43, a P/E/G ratio of 3.78 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 posted its quarterly earnings results on Thursday, November 2nd. The medical research company reported $0.91 EPS for the quarter, topping the 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 for the quarter, compared to analyst estimates of $507.99 million. During the same quarter in the previous year, the firm earned $0.62 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. equities research analysts predict that Bio-Rad Laboratories, Inc. will post 2.68 earnings per share for the current year.
Bio-Rad Laboratories declared that its board has approved a stock repurchase program on Tuesday, November 28th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Bio-Rad Laboratories by 0.4% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 3,596 shares of the medical research company’s stock worth $514,000 after acquiring an additional 13 shares during the period. World Asset Management Inc raised its holdings in shares of Bio-Rad Laboratories by 1.4% during the 2nd quarter. World Asset Management Inc now owns 1,025 shares of the medical research company’s stock worth $232,000 after acquiring an additional 14 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Bio-Rad Laboratories by 1.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 1,666 shares of the medical research company’s stock worth $377,000 after acquiring an additional 29 shares during the period. Martin & Co. Inc. TN raised its holdings in shares of Bio-Rad Laboratories by 0.6% during the 2nd quarter. Martin & Co. Inc. TN now owns 6,825 shares of the medical research company’s stock worth $1,545,000 after acquiring an additional 40 shares during the period. Finally, State of Wisconsin Investment Board raised its holdings in shares of Bio-Rad Laboratories by 1.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 4,187 shares of the medical research company’s stock worth $948,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 63.91% of the company’s stock.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 price objective on the stock in a report on Wednesday. Wells Fargo & Company restated an “outperform” rating and issued a $290.00 price objective (up previously from $250.00) on shares of Bio-Rad Laboratories in a report on Wednesday, November 29th. TheStreet upgraded Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Finally, Deutsche Bank restated a “buy” rating and issued a $255.00 price objective on shares of Bio-Rad Laboratories in a report on Monday, September 18th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $277.75.
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Bio-Rad Laboratories Company 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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