Point72 Asia Singapore Pte. Ltd. Buys Shares of 1,431 Bio-Rad Laboratories, Inc. (NYSE:BIO)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,431 shares of the medical research company’s stock, valued at approximately $479,000.

Several other institutional investors have also made changes to their positions in BIO. Cetera Advisors LLC acquired a new position in Bio-Rad Laboratories in the first quarter worth approximately $404,000. GAMMA Investing LLC increased its stake in shares of Bio-Rad Laboratories by 37.2% during the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the medical research company’s stock worth $88,000 after purchasing an additional 87 shares during the last quarter. DNB Asset Management AS increased its stake in shares of Bio-Rad Laboratories by 8.2% during the 2nd quarter. DNB Asset Management AS now owns 3,419 shares of the medical research company’s stock worth $934,000 after purchasing an additional 258 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Bio-Rad Laboratories by 320.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,663 shares of the medical research company’s stock valued at $1,000,000 after purchasing an additional 2,792 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Bio-Rad Laboratories by 15.7% in the 2nd quarter. CWM LLC now owns 759 shares of the medical research company’s stock valued at $207,000 after purchasing an additional 103 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Trading Down 0.5 %

Bio-Rad Laboratories stock opened at $338.72 on Tuesday. Bio-Rad Laboratories, Inc. has a 52 week low of $262.12 and a 52 week high of $387.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. The firm has a market capitalization of $9.48 billion, a PE ratio of -12.39 and a beta of 0.93. The business’s 50-day simple moving average is $340.77 and its 200-day simple moving average is $318.04.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The firm had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. During the same quarter last year, the firm posted $2.33 EPS. The company’s revenue was up 2.8% on a year-over-year basis. Equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Citigroup increased their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 target price for the company. Finally, Royal Bank of Canada upped their target price on Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Bio-Rad Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $391.80.

Insider Buying and Selling

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 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 directly owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 28.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James Barry sold 623 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction of $205,895.27. Following the transaction, the executive vice president now directly owns 147 shares of the company’s stock, valued at $48,582.03. This represents a 80.91 % decrease in their position. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by insiders.

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.