Philosophy Capital Management LLC Acquires 2,378 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Philosophy Capital Management LLC lifted its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,147 shares of the medical research company’s stock after acquiring an additional 2,378 shares during the period. Bio-Rad Laboratories accounts for approximately 1.6% of Philosophy Capital Management LLC’s holdings, making the stock its 16th biggest holding. Philosophy Capital Management LLC owned 0.21% of Bio-Rad Laboratories worth $19,789,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in Bio-Rad Laboratories in the third quarter worth $83,681,000. Investment Management Corp of Ontario bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth about $210,000. Centiva Capital LP purchased a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth about $505,000. Paloma Partners Management Co grew its holdings in Bio-Rad Laboratories by 350.7% during the 3rd quarter. Paloma Partners Management Co now owns 8,500 shares of the medical research company’s stock valued at $2,844,000 after purchasing an additional 6,614 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Bio-Rad Laboratories in the 3rd quarter worth about $479,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

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

Bio-Rad Laboratories Stock Down 1.9 %

Shares of Bio-Rad Laboratories stock opened at $332.28 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of -12.16 and a beta of 0.90. The firm’s 50-day moving average is $341.10 and its two-hundred day moving average is $318.62. Bio-Rad Laboratories, Inc. has a 1 year low of $262.12 and a 1 year high of $387.99.

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

Insider Buying and Selling

In other news, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the transaction, the chief operating officer now owns 7,559 shares in the company, valued at $2,494,016.46. This represents a 28.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.50% of the stock is currently owned by company insiders.

Bio-Rad Laboratories 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.