CIBC Asset Management Inc Sells 231 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

CIBC Asset Management Inc trimmed its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 7.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,716 shares of the medical research company’s stock after selling 231 shares during the period. CIBC Asset Management Inc’s holdings in Bio-Rad Laboratories were worth $742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in Bio-Rad Laboratories by 36.8% during the 4th quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock valued at $55,000 after purchasing an additional 46 shares during the period. Wahed Invest LLC grew its stake in shares of Bio-Rad Laboratories by 14.0% in the first quarter. Wahed Invest LLC now owns 399 shares of the medical research company’s stock worth $138,000 after acquiring an additional 49 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Bio-Rad Laboratories by 7.7% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 836 shares of the medical research company’s stock worth $289,000 after acquiring an additional 60 shares during the period. Capital Advisors Ltd. LLC boosted its holdings 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 period. Finally, Natixis grew its position in Bio-Rad Laboratories by 3.4% in the 1st quarter. Natixis now owns 1,986 shares of the medical research company’s stock worth $687,000 after purchasing an additional 65 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on BIO shares. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group reiterated a “hold” rating and issued a $315.00 price objective (down previously from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Citigroup boosted their price objective on Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $401.00 price target on shares of Bio-Rad Laboratories in a research note on Friday, August 16th. Finally, Wells Fargo & Company assumed coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $358.20.

Bio-Rad Laboratories Price Performance

Shares of BIO stock opened at $329.75 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.28 and a quick ratio of 4.63. The stock’s fifty day simple moving average is $313.46 and its 200 day simple moving average is $307.98. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $384.37. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of -31.83 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.12 by $0.99. The company had revenue of $638.50 million for the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.00 EPS. On average, analysts expect that Bio-Rad Laboratories, Inc. will post 10.31 earnings per share for the current fiscal year.

Insider Transactions at Bio-Rad Laboratories

In other news, EVP James Barry sold 623 shares of the business’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 approximately $48,582.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $281.91, for a total value of $104,024.79. Following the completion of the transaction, the executive vice president now directly owns 6,573 shares of the company’s stock, valued at $1,852,994.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Barry sold 623 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. The disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

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.