Handelsinvest Investeringsforvaltning Has $268,000 Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Handelsinvest Investeringsforvaltning reduced its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 34.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 775 shares of the medical research company’s stock after selling 403 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Bio-Rad Laboratories were worth $268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new stake in shares of Bio-Rad Laboratories in the 1st quarter valued at $38,000. Gladius Capital Management LP boosted its position in shares of Bio-Rad Laboratories by 65.8% in the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock worth $39,000 after purchasing an additional 48 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Bio-Rad Laboratories in the 4th quarter worth $41,000. GAMMA Investing LLC bought a new position in shares of Bio-Rad Laboratories in the 4th quarter worth $42,000. Finally, Parallel Advisors LLC boosted its position 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 purchasing an additional 46 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Performance

Shares of NYSE:BIO traded up $0.57 during trading on Wednesday, reaching $268.12. 3,851 shares of the stock were exchanged, compared to its average volume of 223,944. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $431.79. The firm has a market cap of $7.65 billion, a PE ratio of -25.83 and a beta of 0.93. The stock has a 50-day moving average price of $283.34 and a 200-day moving average price of $309.88. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Tuesday, May 7th. The medical research company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. The company had revenue of $610.82 million during the quarter, compared to analysts’ expectations of $619.09 million. Bio-Rad Laboratories had a positive return on equity of 3.59% and a negative net margin of 12.37%. The business’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.34 earnings per share. Research analysts expect that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current fiscal year.

Insider Activity at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 369 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total value of $104,024.79. Following the completion of the sale, the executive vice president now directly owns 6,573 shares in the company, valued at $1,852,994.43. The sale was disclosed in a filing with the SEC, which is available at this link. 17.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BIO shares. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. UBS Group lowered their target price on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $315.00 target price (down previously from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $436.67.

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.