Segall Bryant & Hamill LLC raised its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,153 shares of the medical research company’s stock after acquiring an additional 3,790 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.12% of Bio-Rad Laboratories worth $7,812,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. American Century Companies Inc. bought a new stake in shares of Bio-Rad Laboratories in the third quarter worth about $125,820,000. FMR LLC boosted its position in shares of Bio-Rad Laboratories by 237.4% during the second quarter. FMR LLC now owns 711,313 shares of the medical research company’s stock valued at $160,978,000 after buying an additional 500,513 shares during the period. Royal Bank of Canada boosted its holdings in shares of Bio-Rad Laboratories by 101.2% in the second quarter. Royal Bank of Canada now owns 3,324 shares of the medical research company’s stock valued at $752,000 after purchasing an additional 281,264 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Bio-Rad Laboratories by 93.1% in the second quarter. Wells Fargo & Company MN now owns 523,876 shares of the medical research company’s stock valued at $118,557,000 after purchasing an additional 252,643 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC boosted its holdings in shares of Bio-Rad Laboratories by 217.6% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 318,942 shares of the medical research company’s stock valued at $72,180,000 after purchasing an additional 218,512 shares during the period. 63.91% of the stock is currently owned by institutional investors and hedge funds.
BIO has been the subject of a number of analyst reports. Zacks Investment Research lowered Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Deutsche Bank reaffirmed a “buy” rating and issued a $255.00 price target on shares of Bio-Rad Laboratories in a report on Monday, September 18th. TheStreet raised shares of Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $290.00 price target (up from $250.00) on shares of Bio-Rad Laboratories in a research note on Wednesday, November 29th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Bio-Rad Laboratories presently has a consensus rating of “Buy” and an average price target of $277.75.
In related news, CFO Christine A. Tsingos sold 4,980 shares of Bio-Rad Laboratories stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $249.40, for a total transaction of $1,242,012.00. Following the sale, the chief financial officer now directly owns 7,283 shares in the company, valued at approximately $1,816,380.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Giovanni Magni sold 2,400 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $253.01, for a total transaction of $607,224.00. Following the transaction, the executive vice president now owns 9,251 shares in the company, valued at $2,340,595.51. The disclosure for this sale can be found here. Insiders sold a total of 9,126 shares of company stock valued at $2,309,426 in the last three months. 28.29% of the stock is currently owned by corporate insiders.
Shares of Bio-Rad Laboratories, Inc. (NYSE BIO) opened at $251.94 on Monday. The company has a market cap of $7,502.51, a PE ratio of 80.02, a price-to-earnings-growth ratio of 3.76 and a beta of 0.97. The company has a quick ratio of 2.77, a current ratio of 4.06 and a debt-to-equity ratio of 0.15. Bio-Rad Laboratories, Inc. has a 1-year low of $177.68 and a 1-year high of $273.87.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.37. The company had revenue of $535.00 million during the quarter, compared to the consensus estimate of $507.99 million. Bio-Rad Laboratories had a net margin of 1.15% and a return on equity of 3.44%. Bio-Rad Laboratories’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 EPS. equities research analysts expect that Bio-Rad Laboratories, Inc. will post 2.68 earnings per share for the current year.
Bio-Rad Laboratories announced that its board has approved a share 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 reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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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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