Moran Wealth Management LLC Sells 50 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Moran Wealth Management LLC decreased its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,349 shares of the medical research company’s stock after selling 50 shares during the period. Moran Wealth Management LLC’s holdings in Bio-Rad Laboratories were worth $786,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC raised its holdings in shares of Bio-Rad Laboratories by 32,296.9% in 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 purchasing an additional 634,311 shares during the period. Swedbank AB bought a new stake in shares of Bio-Rad Laboratories in the first quarter valued at $1,824,000. Principal Financial Group Inc. lifted its position in shares of Bio-Rad Laboratories by 95.6% during the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock valued at $14,836,000 after buying an additional 21,669 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Bio-Rad Laboratories by 16.8% during the 1st quarter. Gabelli Funds LLC now owns 41,800 shares of the medical research company’s stock worth $14,457,000 after acquiring an additional 6,000 shares during the period. Finally, Mawer Investment Management Ltd. increased its holdings in Bio-Rad Laboratories by 63.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock worth $72,900,000 after acquiring an additional 84,237 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Bio-Rad Laboratories

In related news, EVP James Barry sold 623 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $48,582.03. The trade was a 80.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew J. Last sold 3,000 shares of the stock in a transaction on Friday, September 6th. The shares were 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 directly owns 7,559 shares in the company, valued at approximately $2,494,016.46. This represents a 28.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $325.99 on Friday. The company has a 50 day moving average of $340.38 and a 200 day moving average of $315.33. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The stock has a market cap of $9.13 billion, a P/E ratio of -11.93 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 12 month low of $262.12 and a 12 month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.85. The firm had revenue of $649.70 million for the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $2.33 earnings per share. As a group, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 9.93 EPS for the current fiscal year.

About Bio-Rad Laboratories

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.