Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC decreased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 84.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,920 shares of the medical research company’s stock after selling 16,144 shares during the period. Acadian Asset Management LLC’s holdings in Bio-Rad Laboratories were worth $796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC increased its holdings in shares of 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 acquiring an additional 62 shares during the period. Sound Income Strategies LLC purchased a new position in Bio-Rad Laboratories during the 1st quarter worth $38,000. Principal Securities Inc. acquired a new position in Bio-Rad Laboratories in the fourth quarter valued at $41,000. EntryPoint Capital LLC purchased a new stake in shares of Bio-Rad Laboratories in the first quarter valued at about $51,000. Finally, Parallel Advisors LLC boosted its stake in shares of Bio-Rad Laboratories by 36.8% during the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Up 1.0 %

Shares of BIO opened at $333.66 on Wednesday. The firm’s 50-day moving average is $319.89 and its two-hundred day moving average is $307.37. Bio-Rad Laboratories, Inc. has a twelve month low of $261.59 and a twelve month high of $377.88. The company has a current ratio of 6.28, a quick ratio of 4.63 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $9.52 billion, a P/E ratio of -32.21 and a beta of 0.95.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on BIO shares. Wells Fargo & Company started coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price objective for the company. Citigroup upped their price target 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 reiterated an “outperform” rating and issued a $401.00 price objective on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $315.00 target price (down previously from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Bio-Rad Laboratories presently has an average rating of “Hold” and an average target price of $358.20.

Insider Activity

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of Bio-Rad Laboratories stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the transaction, the executive vice president now owns 147 shares in the company, valued at $48,582.03. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Andrew J. Last sold 3,000 shares of the stock in a transaction on Friday, September 6th. The stock was 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 $2,494,016.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Barry sold 623 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the transaction, the executive vice president now directly owns 147 shares of the company’s stock, valued at approximately $48,582.03. The disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

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.