BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 1,256 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 49.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,812 shares of the medical research company’s stock after acquiring an additional 1,256 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Bio-Rad Laboratories were worth $1,041,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Capital Advisors Ltd. LLC grew its holdings in Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after purchasing an additional 62 shares during the period. Sound Income Strategies LLC bought a new stake in Bio-Rad Laboratories in the 1st quarter valued at about $38,000. EntryPoint Capital LLC bought a new stake in Bio-Rad Laboratories in the 1st quarter valued at about $51,000. Headlands Technologies LLC acquired a new position in Bio-Rad Laboratories during the 2nd quarter worth approximately $51,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Bio-Rad Laboratories by 36.8% in the 4th quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

BIO has been the subject of several recent research reports. Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 target price for the company. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup lifted their target price on Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group reissued a “hold” rating and issued a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $401.00 price objective on shares of Bio-Rad Laboratories in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $358.20.

Insider Activity at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $329.94, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Bio-Rad Laboratories news, 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 sale, the chief operating officer now directly owns 7,559 shares of the company’s stock, valued at $2,494,016.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $205,895.27. Following the completion of the sale, the executive vice president now owns 147 shares in the company, valued at $48,582.03. The disclosure for this sale can be found here. 17.06% of the stock is owned by company insiders.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $331.77 on Monday. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $9.46 billion, a PE ratio of -32.02 and a beta of 0.95. The stock’s 50 day moving average price is $325.80 and its 200-day moving average price is $307.02. Bio-Rad Laboratories, Inc. has a twelve month low of $261.59 and a twelve month high of $366.30.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.00 EPS. On average, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.31 EPS for the current year.

Bio-Rad Laboratories 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.