Avalon Investment & Advisory lowered its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 22.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,844 shares of the medical research company’s stock after selling 3,440 shares during the quarter. Avalon Investment & Advisory’s holdings in Bio-Rad Laboratories were worth $5,347,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BIO. Rosenberg Matthew Hamilton bought a new stake in Bio-Rad Laboratories during the second quarter valued at $27,000. IFP Advisors Inc increased its holdings in shares of Bio-Rad Laboratories by 44.2% during the 2nd quarter. IFP Advisors Inc now owns 62 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 19 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new position in shares of Bio-Rad Laboratories during the 2nd quarter valued at approximately $39,000. Harbor Investment Advisory LLC purchased a new position in shares of Bio-Rad Laboratories during the 1st quarter valued at approximately $32,000. Finally, WASHINGTON TRUST Co increased its holdings in shares of Bio-Rad Laboratories by 254.8% during the 2nd quarter. WASHINGTON TRUST Co now owns 110 shares of the medical research company’s stock valued at $48,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 62.89% of the company’s stock.
In other news, EVP Michael Crowley sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $485.40, for a total transaction of $728,100.00. Following the completion of the sale, the executive vice president now owns 2,310 shares in the company, valued at $1,121,274. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Giovanni Magni sold 2,382 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $518.81, for a total value of $1,235,805.42. Following the sale, the executive vice president now owns 12,435 shares of the company’s stock, valued at approximately $6,451,402.35. The disclosure for this sale can be found here. Company insiders own 27.50% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Bio-Rad Laboratories from $525.00 to $625.00 and gave the company a “buy” rating in a report on Friday, July 31st. Wells Fargo & Co lifted their target price on shares of Bio-Rad Laboratories from $525.00 to $590.00 and gave the company an “overweight” rating in a report on Friday, July 31st. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $511.25.
BIO traded down $3.53 during mid-day trading on Thursday, reaching $517.36. The stock had a trading volume of 7,336 shares, compared to its average volume of 157,805. The stock has a market capitalization of $15.46 billion, a P/E ratio of 8.07 and a beta of 1.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 2.30. The firm’s fifty day simple moving average is $501.46 and its two-hundred day simple moving average is $432.58. Bio-Rad Laboratories, Inc. has a 52 week low of $309.38 and a 52 week high of $540.06.
Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, July 30th. The medical research company reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.39. Bio-Rad Laboratories had a return on equity of 3.66% and a net margin of 84.89%. The business had revenue of $536.88 million for the quarter, compared to analyst estimates of $526.80 million. As a group, analysts expect that Bio-Rad Laboratories, Inc. will post 7.9 EPS for the current fiscal year.
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.
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