Bio-Rad Laboratories, Inc. (NYSE:BIO) Stake Lowered by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 18.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,964 shares of the medical research company’s stock after selling 8,426 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.14% of Bio-Rad Laboratories worth $12,702,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Entropy Technologies LP acquired a new position in shares of Bio-Rad Laboratories during the third quarter worth approximately $1,405,000. Atria Investments Inc boosted its position in shares of Bio-Rad Laboratories by 9.2% during the third quarter. Atria Investments Inc now owns 2,645 shares of the medical research company’s stock worth $885,000 after buying an additional 223 shares during the period. Assetmark Inc. boosted its position in shares of Bio-Rad Laboratories by 84.8% during the third quarter. Assetmark Inc. now owns 305 shares of the medical research company’s stock worth $102,000 after buying an additional 140 shares during the period. Rovin Capital UT ADV acquired a new position in shares of Bio-Rad Laboratories during the third quarter worth approximately $669,000. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of Bio-Rad Laboratories by 10.2% during the third quarter. Kornitzer Capital Management Inc. KS now owns 38,517 shares of the medical research company’s stock worth $12,887,000 after buying an additional 3,564 shares during the period. 65.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $48,582.03. The trade was a 80.91 % decrease in their position. The sale 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 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 directly owns 7,559 shares in the company, valued at approximately $2,494,016.46. This trade represents a 28.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $320.31 on Monday. Bio-Rad Laboratories, Inc. has a one year low of $262.12 and a one year high of $387.99. The stock has a fifty day moving average of $340.48 and a 200-day moving average of $314.67. The company has a market capitalization of $8.97 billion, a PE ratio of -11.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The company had revenue of $649.70 million during the quarter, compared to the consensus estimate of $628.18 million. During the same quarter in the prior year, the firm earned $2.33 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 target price for the company. Citigroup upped their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their target price on Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $391.80.

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.