Westfield Capital Management Co. LP Raises Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Westfield Capital Management Co. LP lifted its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 252,769 shares of the medical research company’s stock after purchasing an additional 9,584 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.90% of Bio-Rad Laboratories worth $84,571,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. UMB Bank n.a. lifted its position in shares of 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 acquiring an additional 45 shares during the period. Capital Advisors Ltd. LLC raised its stake in Bio-Rad Laboratories by 193.8% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. Gladius Capital Management LP purchased a new position in Bio-Rad Laboratories in the 3rd quarter valued at about $32,000. EntryPoint Capital LLC acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth about $51,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Bio-Rad Laboratories during the 2nd quarter worth about $51,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BIO has been the topic of several recent analyst reports. 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 research note on Thursday, October 31st. Citigroup increased their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company began coverage on Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $391.80.

Insider Transactions at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction of $205,895.27. Following the transaction, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. This represents a 80.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the chief operating officer now directly owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. This represents a 28.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Trading Up 2.3 %

BIO stock opened at $332.91 on Friday. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. The company has a market cap of $9.32 billion, a price-to-earnings ratio of -12.18 and a beta of 0.93. The business has a fifty day simple moving average of $340.52 and a 200-day simple moving average of $315.93. Bio-Rad Laboratories, Inc. has a 52 week low of $262.12 and a 52 week high of $387.99.

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