Harbor Capital Advisors Inc. Lowers Stock Holdings in Bio-Rad Laboratories, Inc. $BIO

Harbor Capital Advisors Inc. lessened its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 71.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,603 shares of the medical research company’s stock after selling 6,651 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Bio-Rad Laboratories were worth $730,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. First Eagle Investment Management LLC increased its stake in Bio-Rad Laboratories by 60.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,517,313 shares of the medical research company’s stock worth $607,478,000 after buying an additional 951,123 shares during the period. Ariel Investments LLC grew its stake in shares of Bio-Rad Laboratories by 29.3% in the first quarter. Ariel Investments LLC now owns 724,660 shares of the medical research company’s stock worth $176,498,000 after acquiring an additional 164,136 shares in the last quarter. Norges Bank acquired a new position in shares of Bio-Rad Laboratories in the second quarter worth $30,987,000. Ilex Capital Partners UK LLP increased its position in shares of Bio-Rad Laboratories by 1,790.3% during the second quarter. Ilex Capital Partners UK LLP now owns 120,885 shares of the medical research company’s stock worth $29,172,000 after acquiring an additional 114,490 shares during the period. Finally, Scopia Capital Management LP purchased a new stake in shares of Bio-Rad Laboratories during the second quarter worth $22,862,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insiders Place Their Bets

In other news, EVP James Barry sold 700 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $306.18, for a total transaction of $214,326.00. Following the completion of the sale, the executive vice president owned 510 shares in the company, valued at approximately $156,151.80. The trade was a 57.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Trading Up 0.7%

NYSE:BIO opened at $304.01 on Friday. The stock has a 50-day simple moving average of $315.02 and a 200-day simple moving average of $286.43. The stock has a market cap of $8.20 billion, a P/E ratio of -12.51 and a beta of 1.18. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $373.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.94 and a current ratio of 5.44.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Wednesday, October 29th. The medical research company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.04). The business had revenue of $653.00 million for the quarter, compared to analyst estimates of $651.30 million. Bio-Rad Laboratories had a positive return on equity of 4.19% and a negative net margin of 26.43%.Bio-Rad Laboratories’s revenue was up .5% on a year-over-year basis. During the same period last year, the business posted $2.01 EPS. As a group, analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BIO shares. Wells Fargo & Company lifted their target price on Bio-Rad Laboratories from $265.00 to $340.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research report on Monday, December 22nd. Citigroup lifted their price objective on Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Bio-Rad Laboratories presently has an average rating of “Hold” and a consensus target price of $358.50.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.