James Barry Sells 623 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) Stock

Bio-Rad Laboratories, Inc. (NYSE:BIO) EVP James Barry sold 623 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. The transaction was disclosed in a filing with the SEC, which is available at this link.

Bio-Rad Laboratories Price Performance

Shares of BIO stock traded down $3.66 on Wednesday, reaching $330.65. 234,548 shares of the company were exchanged, compared to its average volume of 226,630. The business has a 50-day moving average price of $311.10 and a 200 day moving average price of $308.14. Bio-Rad Laboratories, Inc. has a 1 year low of $261.59 and a 1 year high of $394.51. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.63 and a current ratio of 6.28. The company has a market cap of $9.43 billion, a price-to-earnings ratio of -31.92 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.99. The business had revenue of $638.50 million during the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.00 EPS. Equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter valued at $59,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth about $519,000. Scientech Research LLC acquired a new position in shares of Bio-Rad Laboratories during the 2nd quarter worth approximately $1,186,000. Select Equity Group L.P. boosted its stake in shares of Bio-Rad Laboratories by 26.2% during the 2nd quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after purchasing an additional 134,856 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Bio-Rad Laboratories by 44.0% in the 2nd quarter. Mackenzie Financial Corp now owns 1,054 shares of the medical research company’s stock worth $288,000 after buying an additional 322 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BIO. UBS Group cut their price objective on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $401.00 price objective on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $315.00 price target (down previously from $440.00) on shares of Bio-Rad Laboratories in a research note on Monday, June 3rd. Finally, Citigroup upped their target price on Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $358.20.

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.