Nordea Investment Management AB Sells 479 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Nordea Investment Management AB decreased its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,310 shares of the medical research company’s stock after selling 479 shares during the period. Nordea Investment Management AB’s holdings in Bio-Rad Laboratories were worth $2,183,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Bio-Rad Laboratories by 48.7% during the 4th quarter. Victory Capital Management Inc. now owns 17,671 shares of the medical research company’s stock valued at $5,706,000 after acquiring an additional 5,790 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Bio-Rad Laboratories by 38.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 151,691 shares of the medical research company’s stock valued at $48,980,000 after purchasing an additional 41,937 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Bio-Rad Laboratories in the 4th quarter worth $1,590,000. Comerica Bank purchased a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at $11,054,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth $2,609,000. Institutional investors own 65.24% of the company’s stock.

Insider Transactions at Bio-Rad Laboratories

In other news, EVP Michael Crowley sold 369 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $281.91, for a total transaction of $104,024.79. Following the completion of the sale, the executive vice president now owns 6,573 shares of the company’s stock, valued at approximately $1,852,994.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.50% of the company’s stock.

Bio-Rad Laboratories Stock Up 2.0 %

NYSE BIO opened at $280.46 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.57 and a quick ratio of 4.89. The business’s 50-day moving average is $283.29 and its 200 day moving average is $308.24. Bio-Rad Laboratories, Inc. has a 1 year low of $261.59 and a 1 year high of $431.79. The stock has a market capitalization of $8.00 billion, a PE ratio of -27.07 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Tuesday, May 7th. The medical research company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.04 by $0.25. The company had revenue of $610.82 million for the quarter, compared to the consensus estimate of $619.09 million. Bio-Rad Laboratories had a negative net margin of 12.37% and a positive return on equity of 3.59%. Bio-Rad Laboratories’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.34 EPS. Sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.8 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on BIO shares. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. UBS Group decreased their target price on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their price target for the company from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Finally, 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 report on Monday, June 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Bio-Rad Laboratories has an average rating of “Moderate Buy” and a consensus price target of $436.67.

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.