Kornitzer Capital Management Inc. KS Acquires 3,564 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Kornitzer Capital Management Inc. KS grew its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,517 shares of the medical research company’s stock after acquiring an additional 3,564 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.14% of Bio-Rad Laboratories worth $12,887,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BIO. UMB Bank n.a. raised its holdings in Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after buying an additional 45 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after purchasing an additional 62 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Bio-Rad Laboratories during the 1st quarter valued at about $51,000. Headlands Technologies LLC bought a new position in Bio-Rad Laboratories during the 2nd quarter valued at approximately $51,000. Finally, Quarry LP purchased a new stake in Bio-Rad Laboratories in the 2nd quarter worth approximately $59,000. 65.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Andrew J. Last sold 3,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $329.94, for a total transaction of $989,820.00. Following the completion of the transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of Bio-Rad Laboratories stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the sale, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew J. Last sold 3,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the transaction, the chief operating officer now owns 7,559 shares of the company’s stock, valued at $2,494,016.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada upped their target price on Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 target price for the company. Citigroup lifted their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $391.80.

Bio-Rad Laboratories Stock Up 0.3 %

Shares of Bio-Rad Laboratories stock traded up $1.18 during trading on Thursday, hitting $374.11. The company’s stock had a trading volume of 7,081 shares, compared to its average volume of 247,249. Bio-Rad Laboratories, Inc. has a 52 week low of $262.12 and a 52 week high of $387.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. The company has a fifty day simple moving average of $337.07 and a two-hundred day simple moving average of $310.43. The company has a market capitalization of $10.43 billion, a PE ratio of -13.64 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. The business had revenue of $649.70 million during the quarter, compared to the consensus estimate of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.33 earnings per share. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 9.93 earnings per share for the current year.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.