Wells Fargo & Company MN increased its position in Bio-Rad Laboratories Inc. (NYSE:BIO) by 0.5% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 546,029 shares of the company’s stock after buying an additional 2,870 shares during the period. Wells Fargo & Company MN’s holdings in Bio-Rad Laboratories were worth $89,445,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in BIO. Comerica Bank boosted its position in Bio-Rad Laboratories by 3.1% in the second quarter. Comerica Bank now owns 14,879 shares of the company’s stock worth $2,288,000 after buying an additional 444 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Bio-Rad Laboratories during the second quarter valued at about $618,000. Ameritas Investment Partners Inc. boosted its position in shares of Bio-Rad Laboratories by 5.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,300 shares of the company’s stock valued at $472,000 after buying an additional 162 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Bio-Rad Laboratories by 3.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 633,229 shares of the company’s stock valued at $90,564,000 after buying an additional 21,591 shares during the period. Finally, BlackRock Fund Advisors boosted its position in shares of Bio-Rad Laboratories by 8.3% in the second quarter. BlackRock Fund Advisors now owns 808,020 shares of the company’s stock valued at $115,563,000 after buying an additional 62,178 shares during the period. Institutional investors and hedge funds own 64.00% of the company’s stock.
Shares of Bio-Rad Laboratories Inc. (NYSE:BIO) opened at 186.91 on Friday. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 56.23 and a beta of 0.90. Bio-Rad Laboratories Inc. has a 1-year low of $122.03 and a 1-year high of $194.20. The stock has a 50 day moving average of $181.10 and a 200-day moving average of $162.27.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.11. Bio-Rad Laboratories had a net margin of 4.75% and a return on equity of 3.79%. The company earned $508.75 million during the quarter, compared to analyst estimates of $480.60 million. During the same period last year, the business earned $0.59 earnings per share. Bio-Rad Laboratories’s revenue was up 8.3% compared to the same quarter last year. Analysts forecast that Bio-Rad Laboratories Inc. will post $2.75 earnings per share for the current year.
Several brokerages have issued reports on BIO. Zacks Investment Research upgraded shares of Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research report on Friday. Deutsche Bank AG restated a “hold” rating and issued a $195.00 price target on shares of Bio-Rad Laboratories in a research report on Wednesday. Jefferies Group restated a “buy” rating and issued a $225.00 price target on shares of Bio-Rad Laboratories in a research report on Sunday, December 4th. Finally, CL King began coverage on shares of Bio-Rad Laboratories in a research report on Wednesday, October 12th. They issued a “buy” rating and a $180.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $200.00.
In other Bio-Rad Laboratories news, VP James R. Stark sold 1,299 shares of Bio-Rad Laboratories stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $171.42, for a total transaction of $222,674.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 28.38% of the company’s stock.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of life science research and clinical diagnostics products. The Company manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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