Key Points
- Bio-Rad EVP Courtney Enloe sold 902 shares for $348,325 at an average price of $386.17, reducing her stake by 54.6% to 750 shares.
- The company beat quarterly estimates, reporting EPS of $2.65 versus $2.23 expected and revenue of $656.4 million versus $649.94 million; revenue rose 0.5% year over year.
- Analysts’ consensus rating is Hold, with an average price target of $366.67; RBC raised its target to $440 and rated the stock Outperform.
Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) EVP Courtney Enloe sold 902 shares of the business's stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $386.17, for a total value of $348,325.34. Following the sale, the executive vice president owned 750 shares of the company's stock, valued at $289,627.50. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Bio-Rad Laboratories Trading Down 4.0%
Shares of BIO stock opened at $370.41 on Friday. The stock's fifty day moving average is $373.46 and its two-hundred day moving average is $317.11. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.18. The firm has a market capitalization of $9.90 billion, a P/E ratio of 9.76 and a beta of 1.06. Bio-Rad Laboratories, Inc. has a fifty-two week low of $236.73 and a fifty-two week high of $396.23.
Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its earnings results on Wednesday, November 4th. The medical research company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.42. Bio-Rad Laboratories had a net margin of 39.45% and a return on equity of 3.58%. The company had revenue of $656.40 million for the quarter, compared to analysts' expectations of $649.94 million. During the same quarter in the previous year, the company posted $2.26 EPS. The firm's quarterly revenue was up .5% on a year-over-year basis. Research analysts expect that Bio-Rad Laboratories, Inc. will post 9.71 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Bio-Rad Laboratories
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Bio-Rad Laboratories by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,089,323 shares of the medical research company's stock worth $303,637,000 after purchasing an additional 12,251 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Bio-Rad Laboratories by 57.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 233,227 shares of the medical research company's stock valued at $68,478,000 after purchasing an additional 85,393 shares during the last quarter. Hound Partners LLC boosted its holdings in Bio-Rad Laboratories by 125.9% in the 1st quarter. Hound Partners LLC now owns 97,724 shares of the medical research company's stock valued at $27,241,000 after purchasing an additional 54,456 shares during the last quarter. Hosking Partners LLP grew its stake in shares of Bio-Rad Laboratories by 1.1% in the 3rd quarter. Hosking Partners LLP now owns 95,472 shares of the medical research company's stock valued at $36,061,000 after buying an additional 1,042 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of Bio-Rad Laboratories in the 2nd quarter valued at approximately $17,690,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
BIO has been the topic of several research reports. Royal Bank Of Canada raised their price target on shares of Bio-Rad Laboratories from $390.00 to $440.00 and gave the stock an "outperform" rating in a research note on Thursday, November 5th. Citigroup upped their price objective on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Zacks Research upgraded shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their target price on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded Bio-Rad Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $366.67.
View Our Latest Stock Analysis on BIO
Bio-Rad Laboratories Company Profile
(
Get Free Report)
Bio-Rad Laboratories, Inc. develops, manufactures, and markets products used in life science research and clinical diagnostics. Founded in 1952 by David and Alice Schwartz, the company is headquartered in Hercules, California, and serves customers around the world. Through its Life Science segment, Bio-Rad supplies instruments, reagents, and software for areas including cell biology, genomics, protein analysis, and drug discovery. Its products support research at academic institutions, biotechnology and pharmaceutical companies, and other laboratories.
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