Victory Capital Management Inc. Has $5.77 Million Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Victory Capital Management Inc. raised its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 18.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,108 shares of the medical research company’s stock after purchasing an additional 3,298 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Bio-Rad Laboratories worth $5,765,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp purchased a new position in shares of Bio-Rad Laboratories during the second quarter valued at approximately $180,040,000. Norges Bank purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $73,142,000. Parsifal Capital Management LP bought a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at about $61,866,000. Earnest Partners LLC boosted its holdings in Bio-Rad Laboratories by 30.8% during the first quarter. Earnest Partners LLC now owns 514,906 shares of the medical research company’s stock worth $178,091,000 after purchasing an additional 121,272 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Bio-Rad Laboratories by 454.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 144,333 shares of the medical research company’s stock worth $46,604,000 after purchasing an additional 118,304 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 1.3 %

Shares of NYSE BIO opened at $330.33 on Tuesday. 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 has a market capitalization of $9.42 billion, a PE ratio of -31.89 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $377.88. The business’s fifty day moving average price is $319.89 and its 200-day moving average price is $307.37.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data 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 business 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 company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 earnings per share. On average, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.31 EPS for the current year.

Insider Activity at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the sale, the chief operating officer now owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP James Barry sold 623 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the transaction, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew J. Last sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were 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. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

About Bio-Rad Laboratories

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.