Exchange Traded Concepts LLC Buys 7,648 Shares of Bio-Rad Laboratories, Inc. $BIO

Exchange Traded Concepts LLC lifted its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 54.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,580 shares of the medical research company’s stock after acquiring an additional 7,648 shares during the period. Exchange Traded Concepts LLC owned 0.08% of Bio-Rad Laboratories worth $6,051,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BIO. First Eagle Investment Management LLC raised its stake in Bio-Rad Laboratories by 60.7% during the second quarter. First Eagle Investment Management LLC now owns 2,517,313 shares of the medical research company’s stock valued at $607,478,000 after buying an additional 951,123 shares during the last quarter. Ariel Investments LLC raised its stake in Bio-Rad Laboratories by 13.0% during the 2nd quarter. Ariel Investments LLC now owns 818,624 shares of the medical research company’s stock valued at $197,550,000 after buying an additional 93,964 shares during the last quarter. Bank of America Corp DE lifted its holdings in Bio-Rad Laboratories by 5.0% in the second quarter. Bank of America Corp DE now owns 452,133 shares of the medical research company’s stock valued at $109,109,000 after acquiring an additional 21,594 shares during the period. First Pacific Advisors LP lifted its stake in shares of Bio-Rad Laboratories by 3.9% in the 2nd quarter. First Pacific Advisors LP now owns 386,949 shares of the medical research company’s stock worth $93,379,000 after purchasing an additional 14,394 shares during the period. Finally, Parnassus Investments LLC raised its position in Bio-Rad Laboratories by 2.3% in the first quarter. Parnassus Investments LLC now owns 318,111 shares of the medical research company’s stock worth $77,479,000 after acquiring an additional 7,244 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

BIO opened at $300.81 on Wednesday. The business has a fifty day moving average of $315.46 and a 200 day moving average of $285.26. The stock has a market cap of $8.12 billion, a P/E ratio of -12.37 and a beta of 1.18. The company has a quick ratio of 3.94, a current ratio of 5.44 and a debt-to-equity ratio of 0.18. 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 released its earnings results on Wednesday, October 29th. The medical research company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.04). The business had revenue of $653.00 million for the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $2.01 earnings per share. As a group, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP James Barry sold 700 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $306.18, for a total value of $214,326.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.83% of the stock is owned by insiders.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.