LGT Financial Advisors LLC Trims Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

LGT Financial Advisors LLC lowered its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 45.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105 shares of the medical research company’s stock after selling 87 shares during the period. LGT Financial Advisors LLC’s holdings in Bio-Rad Laboratories were worth $35,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Bio-Rad Laboratories by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,421,334 shares of the medical research company’s stock worth $837,467,000 after acquiring an additional 31,445 shares during the period. Van ECK Associates Corp grew its stake in shares of Bio-Rad Laboratories by 97.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock valued at $436,861,000 after buying an additional 644,530 shares during the period. Select Equity Group L.P. increased its holdings in shares of Bio-Rad Laboratories by 26.2% during the 2nd quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after buying an additional 134,856 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Bio-Rad Laboratories by 32,296.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after buying an additional 634,311 shares during the last quarter. Finally, Earnest Partners LLC raised its position in shares of Bio-Rad Laboratories by 17.8% in the 2nd quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock worth $165,720,000 after buying an additional 91,882 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the transaction, the executive vice president now directly owns 147 shares of the company’s stock, valued at $48,582.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 147 shares of the company’s stock, valued at $48,582.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Andrew J. Last sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 7,559 shares of the company’s stock, valued at $2,494,016.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by insiders.

Bio-Rad Laboratories Stock Performance

Shares of NYSE:BIO opened at $372.77 on Thursday. The business’s 50-day simple moving average is $336.19 and its 200 day simple moving average is $309.99. The company has a market cap of $10.39 billion, a P/E ratio of -13.64 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. Bio-Rad Laboratories, Inc. has a one year low of $262.12 and a one year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. The company had revenue of $649.70 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 earnings per share. On average, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 9.93 earnings per share for the current fiscal year.

Bio-Rad Laboratories Company 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.