Bio-Rad Laboratories, Inc. (NYSE:BIO) EVP Timothy S. Ernst sold 310 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $320.00, for a total value of $99,200.00. Following the transaction, the executive vice president now directly owns 3,100 shares of the company’s stock, valued at $992,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of BIO stock traded down $9.44 during mid-day trading on Wednesday, hitting $316.81. The company’s stock had a trading volume of 160,569 shares, compared to its average volume of 217,290. The stock’s fifty day simple moving average is $316.96. Bio-Rad Laboratories, Inc. has a 52 week low of $220.05 and a 52 week high of $338.67. The company has a current ratio of 4.68, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11. The company has a market cap of $9.70 billion, a P/E ratio of 54.25, a PEG ratio of 3.02 and a beta of 1.21.
Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.18. Bio-Rad Laboratories had a return on equity of 3.92% and a net margin of 39.32%. The firm had revenue of $572.60 million during the quarter, compared to analyst estimates of $564.88 million. During the same period last year, the company posted $1.64 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 7.19 EPS for the current year.
BIO has been the subject of several analyst reports. Deutsche Bank raised their target price on Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. ValuEngine raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Barclays lifted their price objective on Bio-Rad Laboratories from $350.00 to $380.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Bio-Rad Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $370.00.
Hedge funds have recently bought and sold shares of the company. FMR LLC grew its holdings in Bio-Rad Laboratories by 18.1% during the fourth quarter. FMR LLC now owns 162,202 shares of the medical research company’s stock worth $37,666,000 after acquiring an additional 24,880 shares during the period. Geode Capital Management LLC grew its holdings in Bio-Rad Laboratories by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 214,188 shares of the medical research company’s stock worth $49,738,000 after acquiring an additional 15,557 shares during the period. Louisiana State Employees Retirement System grew its holdings in Bio-Rad Laboratories by 1.9% during the first quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the medical research company’s stock worth $1,651,000 after acquiring an additional 100 shares during the period. Retirement Systems of Alabama grew its holdings in Bio-Rad Laboratories by 0.4% during the first quarter. Retirement Systems of Alabama now owns 26,213 shares of the medical research company’s stock worth $8,013,000 after acquiring an additional 105 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Bio-Rad Laboratories by 113.6% during the first quarter. Nisa Investment Advisors LLC now owns 2,582 shares of the medical research company’s stock worth $789,000 after acquiring an additional 1,373 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
Read More: What are the benefits of momentum investing?
Receive News & Ratings for Bio-Rad Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.