609 Shares in Bio-Rad Laboratories, Inc. (NYSE:BIO) Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC acquired a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 609 shares of the medical research company’s stock, valued at approximately $208,000.

A number of other hedge funds also recently bought and sold shares of BIO. Gladius Capital Management LP grew its position in shares of 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 purchasing an additional 48 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Bio-Rad Laboratories during the 4th quarter worth $41,000. GAMMA Investing LLC purchased a new position in shares of Bio-Rad Laboratories during the 4th quarter worth $42,000. Parallel Advisors LLC grew its holdings in shares of 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 purchasing an additional 46 shares during the period. Finally, Bfsg LLC acquired a new stake in Bio-Rad Laboratories during the fourth quarter worth about $77,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

BIO opened at $287.98 on Friday. The stock’s 50-day moving average price is $285.18 and its 200 day moving average price is $311.47. Bio-Rad Laboratories, Inc. has a 12-month low of $261.59 and a 12-month high of $431.79. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of -27.80 and a beta of 0.95. 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 (NYSE:BIO) last announced its quarterly earnings data on Tuesday, May 7th. The medical research company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.25. The firm had revenue of $610.82 million during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.34 earnings per share. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.8 earnings per share for the current year.

Insider Transactions at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 369 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was 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 approximately $1,852,994.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.06% of the company’s stock.

Analysts Set New Price Targets

BIO has been the subject of several analyst reports. Jefferies Financial Group reissued 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. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Finally, UBS Group lowered their price target on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $436.67.

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.