Macquarie Group Ltd. lowered its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) by 9.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,252 shares of the medical research company's stock after selling 238 shares during the period. Macquarie Group Ltd.'s holdings in Bio-Rad Laboratories were worth $940,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Gabelli Funds LLC increased its stake in Bio-Rad Laboratories by 2.8% during the 3rd quarter. Gabelli Funds LLC now owns 36,800 shares of the medical research company's stock valued at $15,351,000 after purchasing an additional 1,000 shares in the last quarter. Zacks Investment Management raised its stake in shares of Bio-Rad Laboratories by 722.0% during the 3rd quarter. Zacks Investment Management now owns 6,469 shares of the medical research company's stock valued at $2,698,000 after buying an additional 5,682 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Bio-Rad Laboratories by 16.8% in the 3rd quarter. Royal Bank of Canada now owns 66,398 shares of the medical research company's stock valued at $27,697,000 after buying an additional 9,543 shares during the period. Eaton Vance Management grew its holdings in Bio-Rad Laboratories by 1.6% during the third quarter. Eaton Vance Management now owns 6,452 shares of the medical research company's stock worth $2,691,000 after acquiring an additional 104 shares during the period. Finally, Tudor Investment Corp Et Al boosted its position in Bio-Rad Laboratories by 1,241.5% in the 3rd quarter. Tudor Investment Corp Et Al now owns 12,583 shares of the medical research company's stock worth $5,249,000 after purchasing an additional 11,645 shares in the last quarter. 64.35% of the stock is currently owned by hedge funds and other institutional investors.
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Insider Activity at Bio-Rad Laboratories
In related news, EVP Timothy S. Ernst sold 1,746 shares of the company's stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $486.43, for a total value of $849,306.78. Following the completion of the sale, the executive vice president now owns 2,671 shares in the company, valued at $1,299,254.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 27.40% of the company's stock.
Bio-Rad Laboratories Stock Performance
Shares of NYSE BIO opened at $478.24 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.29 and a current ratio of 5.55. The stock has a fifty day moving average price of $465.39 and a two-hundred day moving average price of $436.90. Bio-Rad Laboratories, Inc. has a 1 year low of $344.63 and a 1 year high of $607.54. The firm has a market cap of $14.16 billion, a P/E ratio of -3.94 and a beta of 0.93.
Bio-Rad Laboratories (NYSE:BIO – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The medical research company reported $3.31 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.14). The business had revenue of $730.29 million for the quarter, compared to the consensus estimate of $741.01 million. Bio-Rad Laboratories had a negative net margin of 129.66% and a positive return on equity of 4.59%. Bio-Rad Laboratories's revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.21 EPS. Research analysts forecast that Bio-Rad Laboratories, Inc. will post 15.91 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts have commented on the company. Royal Bank of Canada raised their price objective on Bio-Rad Laboratories from $571.00 to $579.00 and gave the company an "outperform" rating in a report on Friday, February 17th. Credit Suisse Group lifted their target price on shares of Bio-Rad Laboratories from $640.00 to $680.00 and gave the company an "outperform" rating in a research report on Friday, February 17th. TheStreet upgraded Bio-Rad Laboratories from a "d+" rating to a "c" rating in a research report on Thursday, February 16th. Finally, StockNews.com upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Monday, February 20th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $664.75.
Bio-Rad Laboratories Company Profile
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Bio-Rad Laboratories, Inc engages in the development and production of specialty chemicals used in biochemical, pharmaceutical, and other life science research applications. It operates through the Life Sciences and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments.
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