Bio-Rad Laboratories, Inc. (NYSE:BIO) Stock Holdings Lowered by Portolan Capital Management LLC

Portolan Capital Management LLC reduced its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 12.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,900 shares of the medical research company’s stock after selling 3,250 shares during the quarter. Portolan Capital Management LLC owned 0.08% of Bio-Rad Laboratories worth $7,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Advisors Ltd. LLC increased its position in shares of Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after acquiring an additional 62 shares in the last quarter. UMB Bank n.a. increased its position in shares of Bio-Rad Laboratories by 140.6% in the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after acquiring an additional 45 shares in the last quarter. Gladius Capital Management LP purchased a new position in shares of Bio-Rad Laboratories in the third quarter worth approximately $32,000. Headlands Technologies LLC purchased a new position in shares of Bio-Rad Laboratories in the second quarter worth approximately $51,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Bio-Rad Laboratories in the third quarter worth approximately $55,000. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $332.28 on Wednesday. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $9.30 billion, a PE ratio of -12.16 and a beta of 0.90. The company has a 50 day moving average price of $341.01 and a two-hundred day moving average price of $318.35. Bio-Rad Laboratories, Inc. has a 12-month low of $262.12 and a 12-month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last posted 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. The firm had revenue of $649.70 million during the quarter, compared to analysts’ expectations of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 earnings per share. As a group, equities analysts predict that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Bio-Rad Laboratories

In other news, COO Andrew J. Last sold 3,000 shares of the business’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 completion of the sale, the chief operating officer now directly owns 7,559 shares in the company, valued at approximately $2,494,016.46. The trade was a 28.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

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

Bio-Rad Laboratories Company Profile

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.