Frank Rimerman Advisors LLC Acquires New Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Frank Rimerman Advisors LLC purchased a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,048 shares of the medical research company’s stock, valued at approximately $559,000.

A number of other institutional investors have also recently made changes to their positions in BIO. Capital Advisors Ltd. LLC raised its stake in Bio-Rad Laboratories by 193.8% during the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after buying an additional 62 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Bio-Rad Laboratories in the 1st quarter valued at about $38,000. EntryPoint Capital LLC acquired a new stake in Bio-Rad Laboratories during the first quarter worth approximately $51,000. Headlands Technologies LLC bought a new stake in Bio-Rad Laboratories in the second quarter worth approximately $51,000. Finally, Parallel Advisors LLC lifted 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 buying an additional 46 shares during the period. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BIO shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $401.00 price target on shares of Bio-Rad Laboratories in a research note on Friday, August 16th. Jefferies Financial Group reiterated a “hold” rating and issued a $315.00 price target (down previously from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup increased their target price on Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price target for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $358.20.

Insider Activity at Bio-Rad Laboratories

In related news, EVP James Barry sold 623 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the transaction, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the sale, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by insiders.

Bio-Rad Laboratories Trading Down 1.1 %

Shares of BIO opened at $326.54 on Tuesday. Bio-Rad Laboratories, Inc. has a twelve month low of $261.59 and a twelve month high of $366.30. The stock has a market cap of $9.31 billion, a PE ratio of -31.52 and a beta of 0.95. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $324.25 and its 200-day moving average price is $307.40.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.12 by $0.99. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. The firm had revenue of $638.50 million during the quarter, compared to the consensus estimate of $645.79 million. During the same period last year, the firm earned $3.00 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.31 EPS for the current fiscal year.

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.