Fisher Asset Management LLC Sells 5,884 Shares of Bio-Rad Laboratories, Inc. $BIO

Fisher Asset Management LLC lowered its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,742 shares of the medical research company’s stock after selling 5,884 shares during the quarter. Fisher Asset Management LLC owned about 0.51% of Bio-Rad Laboratories worth $33,240,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Bio-Rad Laboratories by 3,633.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 112 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 109 shares during the period. Quarry LP bought a new stake in Bio-Rad Laboratories in the first quarter worth approximately $29,000. UMB Bank n.a. lifted its stake in Bio-Rad Laboratories by 89.8% in the second quarter. UMB Bank n.a. now owns 167 shares of the medical research company’s stock valued at $40,000 after buying an additional 79 shares during the period. Headlands Technologies LLC boosted its holdings in shares of Bio-Rad Laboratories by 64.1% during the 1st quarter. Headlands Technologies LLC now owns 356 shares of the medical research company’s stock worth $87,000 after buying an additional 139 shares in the last quarter. Finally, Twin Tree Management LP acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $87,000. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Price Performance

BIO stock opened at $318.20 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.94 and a current ratio of 5.44. The business has a 50-day simple moving average of $310.59 and a two-hundred day simple moving average of $276.71. The company has a market capitalization of $8.59 billion, a P/E ratio of -13.09 and a beta of 1.18. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $373.69.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Wednesday, October 29th. The medical research company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.04). The company had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $651.30 million. Bio-Rad Laboratories had a positive return on equity of 4.19% and a negative net margin of 26.43%.The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned $2.01 earnings per share. Research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP James Barry sold 700 shares of Bio-Rad Laboratories stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $306.18, for a total transaction of $214,326.00. Following the transaction, the executive vice president directly owned 510 shares of the company’s stock, valued at $156,151.80. The trade was a 57.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Wells Fargo & Company upped their price objective on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research note on Monday. Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $358.50.

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.