Sei Investments Co. Raises Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Sei Investments Co. grew its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 28.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 240,161 shares of the medical research company’s stock after buying an additional 53,535 shares during the period. Sei Investments Co. owned approximately 0.84% of Bio-Rad Laboratories worth $65,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC grew its stake 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 worth $26,000 after buying an additional 62 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth about $38,000. Principal Securities Inc. bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth about $41,000. EntryPoint Capital LLC bought a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth about $51,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Bio-Rad Laboratories by 36.8% in the 4th quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after acquiring an additional 46 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Trading Down 4.2 %

NYSE:BIO opened at $330.01 on Monday. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $366.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.63 and a current ratio of 6.28. The firm has a market cap of $9.41 billion, a P/E ratio of -31.85 and a beta of 0.95. The firm has a 50-day simple moving average of $323.76 and a 200-day simple moving average of $307.50.

Bio-Rad Laboratories (NYSE:BIO) last posted 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 business had revenue of $638.50 million during the quarter, compared to analyst estimates of $645.79 million. During the same quarter in the previous year, the business posted $3.00 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.31 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

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 in the company, valued at approximately $48,582.03. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Andrew J. Last sold 3,000 shares of the business’s stock in a transaction that occurred 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 approximately $2,494,016.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 of the company’s stock, valued at approximately $48,582.03. The disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Company 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.