Commerce Bank Makes New $240,000 Investment in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Commerce Bank bought a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 717 shares of the medical research company’s stock, valued at approximately $240,000.

A number of other institutional investors also recently modified their holdings of the stock. Avior Wealth Management LLC raised its stake in shares of Bio-Rad Laboratories by 3.3% in the third quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock worth $334,000 after acquiring an additional 32 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Bio-Rad Laboratories by 10.0% in the third quarter. PNC Financial Services Group Inc. now owns 8,755 shares of the medical research company’s stock worth $2,929,000 after acquiring an additional 795 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Bio-Rad Laboratories in the third quarter worth about $422,000. Mawer Investment Management Ltd. raised its stake in shares of Bio-Rad Laboratories by 63.0% in the third quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock worth $72,900,000 after acquiring an additional 84,237 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Bio-Rad Laboratories by 0.7% in the third quarter. Swiss National Bank now owns 59,100 shares of the medical research company’s stock worth $19,774,000 after acquiring an additional 400 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Stock Up 0.3 %

Shares of NYSE:BIO opened at $338.68 on Thursday. Bio-Rad Laboratories, Inc. has a 52 week low of $262.12 and a 52 week high of $387.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. The company has a market capitalization of $9.48 billion, a PE ratio of -12.39 and a beta of 0.93. The company has a 50 day moving average price of $340.72 and a two-hundred day moving average price of $317.08.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.85. The company had revenue of $649.70 million during the quarter, compared to analysts’ expectations of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.33 earnings per share. Analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

Insider Activity

In related news, EVP James Barry sold 623 shares of the 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 transaction, the executive vice president now owns 147 shares in the company, valued at approximately $48,582.03. This represents a 80.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief operating officer now owns 7,559 shares of the company’s stock, valued at $2,494,016.46. The trade was a 28.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BIO shares. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their price target on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company started 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 target for the company. Finally, Citigroup boosted their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.