Wedbush Securities Inc. Sells 889 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Wedbush Securities Inc. reduced its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 51.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 851 shares of the medical research company’s stock after selling 889 shares during the quarter. Wedbush Securities Inc.’s holdings in Bio-Rad Laboratories were worth $232,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brio Consultants LLC bought a new position in Bio-Rad Laboratories in the 4th quarter worth $840,000. Principal Securities Inc. bought a new position in shares of Bio-Rad Laboratories in the fourth quarter worth about $41,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of Bio-Rad Laboratories by 26.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 1,578 shares of the medical research company’s stock valued at $510,000 after buying an additional 332 shares in the last quarter. ING Groep NV grew its stake in shares of Bio-Rad Laboratories by 5,200.0% during the 4th quarter. ING Groep NV now owns 6,466 shares of the medical research company’s stock valued at $2,088,000 after acquiring an additional 6,344 shares during the period. Finally, Norges Bank purchased a new stake in Bio-Rad Laboratories in the 4th quarter worth approximately $73,142,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the stock in a transaction on 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 owns 7,559 shares in the company, valued at $2,494,016.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP James Barry sold 623 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories 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 of the company’s stock, valued at $2,494,016.46. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by company insiders.

Bio-Rad Laboratories Trading Up 1.3 %

Shares of Bio-Rad Laboratories stock opened at $326.22 on Monday. Bio-Rad Laboratories, Inc. has a twelve month low of $261.59 and a twelve month high of $384.37. 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 has a 50-day moving average price of $318.79 and a 200-day moving average price of $307.34. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of -31.49 and a beta of 0.95.

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

Wall Street Analyst Weigh In

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

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.