Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 24.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 964 shares of the medical research company’s stock after selling 310 shares during the quarter. Inspire Investing LLC’s holdings in Bio-Rad Laboratories were worth $263,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BIO. Capital Advisors Ltd. LLC boosted its holdings in shares of Bio-Rad Laboratories by 193.8% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after buying an additional 62 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Bio-Rad Laboratories in the first quarter valued at $38,000. EntryPoint Capital LLC acquired a new position in Bio-Rad Laboratories in the first quarter valued at $51,000. Headlands Technologies LLC purchased a new position in shares of Bio-Rad Laboratories during the second quarter worth about $51,000. Finally, Parallel Advisors LLC increased its position in shares of Bio-Rad Laboratories by 36.8% during the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after purchasing an additional 46 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup upped their target price on Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $401.00 target price on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Company assumed 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. Finally, Jefferies Financial Group restated a “hold” rating and issued a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a research note on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $358.20.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $327.89 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.28 and a quick ratio of 4.63. The company has a market cap of $9.35 billion, a PE ratio of -31.65 and a beta of 0.95. The stock has a fifty day moving average price of $324.52 and a 200 day moving average price of $307.29. Bio-Rad Laboratories, Inc. has a 1-year low of $261.59 and a 1-year high of $366.30.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, topping 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 company had revenue of $638.50 million during the quarter, compared to analysts’ expectations of $645.79 million. During the same quarter last year, the business earned $3.00 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.31 EPS for the current year.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the transaction, the executive vice president now owns 147 shares in the company, valued at approximately $48,582.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction of $205,895.27. Following the sale, the executive vice president now directly owns 147 shares in the company, valued at approximately $48,582.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $329.94, for a total transaction of $989,820.00. Following 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 owned by corporate insiders.

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.