Mutual of America Capital Management LLC Boosts Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Mutual of America Capital Management LLC lifted its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 302.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,348 shares of the medical research company’s stock after acquiring an additional 7,777 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Bio-Rad Laboratories were worth $3,462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. First Eagle Investment Management LLC boosted its position in Bio-Rad Laboratories by 32,296.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock valued at $173,773,000 after acquiring an additional 634,311 shares in the last quarter. Swedbank AB bought a new stake in shares of Bio-Rad Laboratories during the first quarter valued at approximately $1,824,000. Principal Financial Group Inc. grew its stake in Bio-Rad Laboratories by 95.6% in the third quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock worth $14,836,000 after purchasing an additional 21,669 shares during the period. Gabelli Funds LLC raised its holdings in Bio-Rad Laboratories by 16.8% in the first quarter. Gabelli Funds LLC now owns 41,800 shares of the medical research company’s stock worth $14,457,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Bio-Rad Laboratories by 320.6% during the second quarter. Harbor Capital Advisors Inc. now owns 3,663 shares of the medical research company’s stock valued at $1,000,000 after buying an additional 2,792 shares during the period. Institutional investors own 65.24% of the company’s stock.

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 completion of the sale, the executive vice president now directly owns 147 shares in the company, valued at approximately $48,582.03. The trade was a 80.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew J. Last sold 3,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the transaction, the chief operating officer now 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 Stock Performance

BIO stock opened at $332.91 on Friday. The stock’s 50 day simple moving average is $340.52 and its 200 day simple moving average is $315.68. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories, Inc. has a 12-month low of $262.12 and a 12-month high of $387.99. The stock has a market capitalization of $9.32 billion, a PE ratio of -12.18 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (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 firm had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. During the same period in the prior year, the company posted $2.33 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, research analysts forecast that Bio-Rad Laboratories, Inc. will post 9.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.