Swedbank AB Has $1.63 Million Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Swedbank AB reduced its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 7.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,860 shares of the medical research company’s stock after selling 414 shares during the quarter. Swedbank AB’s holdings in Bio-Rad Laboratories were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BIO. Price T Rowe Associates Inc. MD lifted its holdings in Bio-Rad Laboratories by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,582 shares of the medical research company’s stock worth $15,421,000 after purchasing an additional 748 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Bio-Rad Laboratories by 0.4% during the 1st quarter. California State Teachers Retirement System now owns 32,398 shares of the medical research company’s stock worth $11,205,000 after purchasing an additional 131 shares during the last quarter. Tidal Investments LLC lifted its holdings in Bio-Rad Laboratories by 11.2% during the 1st quarter. Tidal Investments LLC now owns 3,650 shares of the medical research company’s stock worth $1,262,000 after purchasing an additional 367 shares during the last quarter. Wahed Invest LLC raised its holdings in Bio-Rad Laboratories by 14.0% in the 1st quarter. Wahed Invest LLC now owns 399 shares of the medical research company’s stock valued at $138,000 after acquiring an additional 49 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new position in Bio-Rad Laboratories in the 1st quarter valued at $404,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Bio-Rad Laboratories

In related news, EVP James Barry sold 623 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 147 shares in the company, valued at $48,582.03. The trade was a 80.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Andrew J. Last sold 3,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the sale, the chief operating officer now owns 7,559 shares in the company, valued at $2,494,016.46. This represents a 28.41 % decrease in their position. The disclosure for this sale can be found here. 17.50% of the stock is owned by insiders.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $338.68 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. Bio-Rad Laboratories, Inc. has a 52 week low of $262.12 and a 52 week high of $387.99. The stock has a market capitalization of $9.48 billion, a P/E ratio of -12.39 and a beta of 0.93. The stock has a fifty day moving average of $340.72 and a 200-day moving average of $317.08.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The company had revenue of $649.70 million during the quarter, compared to analysts’ expectations of $628.18 million. During the same quarter in the previous year, the firm earned $2.33 EPS. Bio-Rad Laboratories’s revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current fiscal year.

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.