Janney Montgomery Scott LLC Has $1.38 Million Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Janney Montgomery Scott LLC lessened its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,131 shares of the medical research company’s stock after selling 135 shares during the period. Janney Montgomery Scott LLC’s holdings in Bio-Rad Laboratories were worth $1,382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Van ECK Associates Corp acquired a new position in shares of Bio-Rad Laboratories in the second quarter valued at approximately $180,040,000. First Eagle Investment Management LLC lifted its position in Bio-Rad Laboratories by 32,296.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock valued at $173,773,000 after acquiring an additional 634,311 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Bio-Rad Laboratories by 64.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock worth $135,081,000 after purchasing an additional 193,700 shares during the period. Select Equity Group L.P. increased its holdings in Bio-Rad Laboratories by 26.2% during the 2nd quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after purchasing an additional 134,856 shares in the last quarter. Finally, Earnest Partners LLC raised its stake in shares of Bio-Rad Laboratories by 30.8% in the 1st quarter. Earnest Partners LLC now owns 514,906 shares of the medical research company’s stock valued at $178,091,000 after purchasing an additional 121,272 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of Bio-Rad Laboratories 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 completion of the transaction, the executive vice president now directly owns 147 shares of the company’s stock, valued at $48,582.03. The trade was a 80.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andrew J. Last sold 3,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction 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 trade was a 28.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BIO. Royal Bank of Canada upped their price objective on Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company began coverage on Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price target for the company. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup lifted their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $391.80.

Bio-Rad Laboratories Price Performance

NYSE:BIO opened at $350.23 on Friday. The stock has a market capitalization of $9.81 billion, a PE ratio of -12.81 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 1-year low of $262.12 and a 1-year high of $387.99. The firm has a fifty day simple moving average of $340.67 and a 200 day simple moving average of $313.77. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. The company had revenue of $649.70 million during the quarter, compared to the consensus estimate of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 EPS. On average, research analysts expect that Bio-Rad Laboratories, Inc. will post 9.93 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.