Marathon Asset Management Ltd Sells 7,893 Shares of Bio-Rad Laboratories, Inc. $BIO

Marathon Asset Management Ltd trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 13.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,918 shares of the medical research company’s stock after selling 7,893 shares during the quarter. Marathon Asset Management Ltd owned approximately 0.19% of Bio-Rad Laboratories worth $14,556,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in Bio-Rad Laboratories by 52.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Bio-Rad Laboratories by 3,633.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 112 shares of the medical research company’s stock worth $27,000 after purchasing an additional 109 shares during the period. Quarry LP purchased a new stake in shares of Bio-Rad Laboratories in the first quarter worth $29,000. Geneos Wealth Management Inc. boosted its stake in Bio-Rad Laboratories by 115.2% during the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock valued at $34,000 after buying an additional 76 shares during the period. Finally, UMB Bank n.a. grew its position in Bio-Rad Laboratories by 89.8% during the second quarter. UMB Bank n.a. now owns 167 shares of the medical research company’s stock worth $40,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BIO. Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Citigroup upped their price objective on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research report on Monday, December 22nd. Finally, Wells Fargo & Company boosted their price target on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $358.50.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP James Barry sold 700 shares of the company’s stock in a transaction dated 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 directly owned 510 shares in the company, valued at $156,151.80. This represents a 57.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 17.83% of the stock is owned by corporate insiders.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $304.01 on Monday. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of -12.51 and a beta of 1.18. The business has a 50 day moving average of $315.02 and a 200 day moving average of $286.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.44 and a quick ratio of 3.94. Bio-Rad Laboratories, Inc. has a 1-year low of $211.43 and a 1-year high of $373.69.

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

About Bio-Rad Laboratories

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.