GAMMA Investing LLC Increases Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

GAMMA Investing LLC increased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 80.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 234 shares of the medical research company’s stock after purchasing an additional 104 shares during the quarter. GAMMA Investing LLC’s holdings in Bio-Rad Laboratories were worth $81,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Bio-Rad Laboratories by 48.7% in the fourth quarter. Victory Capital Management Inc. now owns 17,671 shares of the medical research company’s stock valued at $5,706,000 after acquiring an additional 5,790 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Bio-Rad Laboratories by 38.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 151,691 shares of the medical research company’s stock valued at $48,980,000 after purchasing an additional 41,937 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth $1,590,000. Comerica Bank purchased a new position in shares of Bio-Rad Laboratories in the 3rd quarter worth about $11,054,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Bio-Rad Laboratories during the fourth quarter valued at about $2,609,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 369 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $281.91, for a total value of $104,024.79. Following the transaction, the executive vice president now directly owns 6,573 shares in the company, valued at $1,852,994.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Trading Up 0.8 %

NYSE:BIO opened at $287.98 on Monday. Bio-Rad Laboratories, Inc. has a 1 year low of $261.59 and a 1 year high of $431.79. The stock’s fifty day moving average price is $285.18 and its two-hundred day moving average price is $311.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.57 and a quick ratio of 4.89. The company has a market cap of $8.21 billion, a P/E ratio of -27.80 and a beta of 0.95.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $315.00 target price (down 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 reduced their price objective for the company from $400.00 to $365.00 in a report on Wednesday, April 3rd. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. Finally, UBS Group cut their price target on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bio-Rad Laboratories has an average rating of “Moderate Buy” and an average target price of $436.67.

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.