Park Place Capital Corp Sells 95 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Park Place Capital Corp reduced its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 48.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100 shares of the medical research company’s stock after selling 95 shares during the quarter. Park Place Capital Corp’s holdings in Bio-Rad Laboratories were worth $35,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $73,142,000. Parsifal Capital Management LP bought a new stake in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $61,866,000. Goldman Sachs Group Inc. boosted its position in shares of Bio-Rad Laboratories by 454.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 144,333 shares of the medical research company’s stock valued at $46,604,000 after purchasing an additional 118,304 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Bio-Rad Laboratories by 25.6% during the third quarter. Earnest Partners LLC now owns 351,510 shares of the medical research company’s stock valued at $125,999,000 after purchasing an additional 71,570 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Bio-Rad Laboratories by 303.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 73,610 shares of the medical research company’s stock valued at $23,768,000 after purchasing an additional 55,369 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $263.67 on Tuesday. 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 one year low of $261.59 and a one year high of $431.79. The stock has a fifty day moving average of $283.70 and a 200 day moving average of $310.15.

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

Analyst Ratings Changes

BIO has been the topic of several analyst reports. UBS Group dropped their target price on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $400.00 to $365.00 in a report on Wednesday, April 3rd. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, May 28th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $315.00 target price (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $436.67.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $281.91, for a total value of $104,024.79. Following the completion of the sale, the executive vice president now owns 6,573 shares in the company, valued at $1,852,994.43. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 17.50% of the company’s stock.

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.