Intact Investment Management Inc. Takes Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Intact Investment Management Inc. acquired a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 700 shares of the medical research company’s stock, valued at approximately $335,000.

Other institutional investors have also modified their holdings of the company. Eagle Asset Management Inc. raised its stake in Bio-Rad Laboratories by 1.0% during the 4th quarter. Eagle Asset Management Inc. now owns 2,225 shares of the medical research company’s stock worth $939,000 after acquiring an additional 23 shares in the last quarter. Mather Group LLC. raised its stake in Bio-Rad Laboratories by 6.8% during the 1st quarter. Mather Group LLC. now owns 377 shares of the medical research company’s stock worth $212,000 after acquiring an additional 24 shares in the last quarter. Park Place Capital Corp raised its stake in Bio-Rad Laboratories by 6.3% during the 1st quarter. Park Place Capital Corp now owns 419 shares of the medical research company’s stock worth $201,000 after acquiring an additional 25 shares in the last quarter. Raymond James Trust N.A. raised its stake in Bio-Rad Laboratories by 5.5% during the 1st quarter. Raymond James Trust N.A. now owns 501 shares of the medical research company’s stock worth $283,000 after acquiring an additional 26 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in Bio-Rad Laboratories by 0.9% during the 4th quarter. Texas Permanent School Fund now owns 3,059 shares of the medical research company’s stock worth $1,286,000 after acquiring an additional 27 shares in the last quarter. 63.98% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Trading Down 2.7 %

Shares of Bio-Rad Laboratories stock opened at $357.91 on Monday. Bio-Rad Laboratories, Inc. has a 52-week low of $344.63 and a 52-week high of $514.25. The company has a quick ratio of 4.06, a current ratio of 5.39 and a debt-to-equity ratio of 0.14. The company’s 50-day simple moving average is $393.29 and its 200-day simple moving average is $415.98. The firm has a market cap of $10.41 billion, a price-to-earnings ratio of -23.84 and a beta of 0.89.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.45. The firm had revenue of $681.10 million for the quarter, compared to the consensus estimate of $697.96 million. Bio-Rad Laboratories had a negative net margin of 15.52% and a positive return on equity of 4.02%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.38 earnings per share. As a group, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 12.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Bio-Rad Laboratories from $522.00 to $524.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. StockNews.com assumed coverage on shares of Bio-Rad Laboratories in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Credit Suisse Group dropped their price objective on shares of Bio-Rad Laboratories from $580.00 to $550.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Bio-Rad Laboratories from $550.00 to $525.00 and set an “overweight” rating on the stock in a research note on Monday, August 7th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Bio-Rad Laboratories currently has an average rating of “Buy” and an average price target of $533.00.

Insider Buying and Selling

In other Bio-Rad Laboratories news, EVP Timothy S. Ernst sold 2,350 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $395.60, for a total value of $929,660.00. Following the sale, the executive vice president now owns 2,416 shares of the company’s stock, valued at $955,769.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bio-Rad Laboratories news, EVP Timothy S. Ernst sold 300 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $384.69, for a total value of $115,407.00. Following the sale, the executive vice president now owns 2,416 shares of the company’s stock, valued at $929,411.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy S. Ernst sold 2,350 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $395.60, for a total transaction of $929,660.00. Following the completion of the transaction, the executive vice president now directly owns 2,416 shares of the company’s stock, valued at approximately $955,769.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,150 shares of company stock valued at $1,234,762. Corporate 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. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.