XTX Topco Ltd Makes New Investment in Bio-Rad Laboratories, Inc. (NYSE:BIO)

XTX Topco Ltd acquired a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,389 shares of the medical research company’s stock, valued at approximately $926,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Bio-Rad Laboratories by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,421,334 shares of the medical research company’s stock valued at $837,467,000 after acquiring an additional 31,445 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of Bio-Rad Laboratories in the 2nd quarter worth about $180,040,000. First Eagle Investment Management LLC lifted its stake in shares of 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 purchasing an additional 634,311 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Bio-Rad Laboratories by 30.8% during the 1st quarter. Earnest Partners LLC now owns 514,906 shares of the medical research company’s stock worth $178,091,000 after purchasing an additional 121,272 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Bio-Rad Laboratories by 64.4% during 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 in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $330.01 on Friday. The company’s fifty day moving average price is $323.76 and its two-hundred day moving average price is $307.68. 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 firm has a market capitalization of $9.41 billion, a P/E ratio of -31.85 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $366.30.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly 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 positive return on equity of 3.77% and a negative net margin of 51.73%. The business had revenue of $638.50 million for the quarter, compared to analysts’ expectations of $645.79 million. During the same quarter in the previous year, the firm posted $3.00 earnings per share. The company’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BIO has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Citigroup lifted their target price on shares of Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and set a $401.00 price objective on shares of Bio-Rad Laboratories in a research note on Friday, August 16th. Finally, Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 target price for the company. 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $358.20.

Insider Transactions 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 sale, the executive vice president now directly owns 147 shares of the company’s stock, valued at $48,582.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP James Barry sold 623 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. The transaction 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 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 sale, the chief operating officer now owns 7,559 shares in the company, valued at approximately $2,494,016.46. The disclosure for this sale can be found here. Corporate insiders own 17.06% 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.