Insight Wealth Strategies LLC Invests $313,000 in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Insight Wealth Strategies LLC acquired a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 906 shares of the medical research company’s stock, valued at approximately $313,000.

Other hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP grew its stake in Bio-Rad Laboratories by 65.8% in the fourth quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 48 shares during the period. Principal Securities Inc. acquired a new stake in Bio-Rad Laboratories in the fourth quarter valued at approximately $41,000. GAMMA Investing LLC acquired a new stake in Bio-Rad Laboratories in the fourth quarter valued at approximately $42,000. Parallel Advisors LLC grew its stake in Bio-Rad Laboratories by 36.8% in the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock valued at $55,000 after acquiring an additional 46 shares during the period. Finally, Bfsg LLC acquired a new stake in Bio-Rad Laboratories in the fourth quarter valued at approximately $77,000. 65.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Michael Crowley sold 369 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $281.91, for a total transaction of $104,024.79. Following the completion of the transaction, the executive vice president now directly owns 6,573 shares of the company’s stock, valued at $1,852,994.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BIO. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their target price for the company from $400.00 to $365.00 in a research report on Wednesday, April 3rd. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Jefferies Financial Group reissued a “hold” rating and issued a $315.00 price objective (down previously from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Finally, UBS Group lowered their target price on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $436.67.

Bio-Rad Laboratories Stock Down 2.3 %

BIO opened at $288.99 on Thursday. The company has a market cap of $8.24 billion, a P/E ratio of -27.89 and a beta of 0.95. The business’s 50-day moving average price is $285.96 and its 200-day moving average price is $311.76. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $431.79.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Tuesday, May 7th. The medical research company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.04 by $0.25. The firm had revenue of $610.82 million during the quarter, compared to the consensus estimate of $619.09 million. Bio-Rad Laboratories had a negative net margin of 12.37% and a positive return on equity of 3.59%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.34 earnings per share. On average, equities analysts expect that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current year.

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.