Insider Selling: Bio-Rad Laboratories, Inc. (NYSE:BIO) COO Sells $989,820.00 in Stock

Bio-Rad Laboratories, Inc. (NYSE:BIO) COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $329.94, for a total transaction of $989,820.00. Following the completion of the transaction, the chief operating officer now owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Bio-Rad Laboratories Price Performance

NYSE:BIO opened at $322.03 on Friday. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $317.80 and its 200 day moving average price is $307.74. Bio-Rad Laboratories, Inc. has a 52-week low of $261.59 and a 52-week high of $384.37. The firm has a market cap of $9.19 billion, a P/E ratio of -31.08 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.99. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. The company had revenue of $638.50 million for the quarter, compared to analysts’ expectations of $645.79 million. During the same quarter in the previous year, the company posted $3.00 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BIO. Capital Advisors Ltd. LLC boosted its stake in shares of Bio-Rad Laboratories by 193.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after acquiring an additional 62 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Bio-Rad Laboratories in the 1st quarter worth about $38,000. Principal Securities Inc. purchased a new position in Bio-Rad Laboratories in the 4th quarter worth about $41,000. EntryPoint Capital LLC acquired a new stake in Bio-Rad Laboratories during the 1st quarter worth about $51,000. Finally, Headlands Technologies LLC purchased a new stake in Bio-Rad Laboratories during the second quarter valued at about $51,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.