Bio-Rad Laboratories, Inc. (BIO) EVP Sells $258,390.00 in Stock
Bio-Rad Laboratories, Inc. (NYSE:BIO) EVP Michael Crowley sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $258.39, for a total transaction of $258,390.00. Following the transaction, the executive vice president now directly owns 2,492 shares in the company, valued at approximately $643,907.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Bio-Rad Laboratories, Inc. (NYSE BIO) traded down $0.17 during trading hours on Thursday, hitting $253.63. 129,900 shares of the stock traded hands, compared to its average volume of 179,841. Bio-Rad Laboratories, Inc. has a one year low of $175.55 and a one year high of $273.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.77 and a current ratio of 4.06. The company has a market cap of $7,553.85, a price-to-earnings ratio of 80.57, a price-to-earnings-growth ratio of 3.79 and a beta of 0.97.
Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.37. Bio-Rad Laboratories had a net margin of 1.15% and a return on equity of 3.44%. The company had revenue of $535.00 million during the quarter, compared to analyst estimates of $507.99 million. During the same quarter last year, the firm posted $0.62 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. equities analysts forecast that Bio-Rad Laboratories, Inc. will post 2.68 earnings per share for the current year.
Bio-Rad Laboratories announced that its board has approved a stock repurchase program on Tuesday, November 28th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.
Several research firms have commented on BIO. Wells Fargo & Company reissued an “outperform” rating and set a $290.00 target price (up previously from $250.00) on shares of Bio-Rad Laboratories in a research note on Wednesday, November 29th. TheStreet raised shares of Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research note on Monday, November 13th. Zacks Investment Research raised shares of Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Deutsche Bank reissued a “buy” rating and set a $255.00 target price on shares of Bio-Rad Laboratories in a research note on Monday, September 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $273.33.
Hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC raised its position in Bio-Rad Laboratories by 20.2% during the third quarter. Neuberger Berman Group LLC now owns 131,393 shares of the medical research company’s stock valued at $29,198,000 after acquiring an additional 22,050 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Bio-Rad Laboratories by 3.6% in the third quarter. California Public Employees Retirement System now owns 60,557 shares of the medical research company’s stock valued at $13,457,000 after purchasing an additional 2,118 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Bio-Rad Laboratories in the third quarter valued at approximately $626,000. Janus Henderson Group PLC raised its position in shares of Bio-Rad Laboratories by 8.4% in the third quarter. Janus Henderson Group PLC now owns 36,310 shares of the medical research company’s stock valued at $8,069,000 after purchasing an additional 2,800 shares during the period. Finally, Claar Advisors LLC bought a new position in shares of Bio-Rad Laboratories in the third quarter valued at approximately $13,333,000. Institutional investors and hedge funds own 63.87% of the company’s stock.
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Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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