Chicago Equity Partners LLC Has $925,000 Position in Bio-Rad Laboratories, Inc. (BIO)
Chicago Equity Partners LLC increased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 108.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,875 shares of the medical research company’s stock after purchasing an additional 2,020 shares during the quarter. Chicago Equity Partners LLC’s holdings in Bio-Rad Laboratories were worth $925,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in BIO. American Century Companies Inc. purchased a new position in Bio-Rad Laboratories during the third quarter worth about $125,820,000. Royal Bank of Canada boosted its holdings in Bio-Rad Laboratories by 101.2% during the second quarter. Royal Bank of Canada now owns 3,324 shares of the medical research company’s stock worth $752,000 after purchasing an additional 281,264 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Bio-Rad Laboratories during the third quarter worth about $22,175,000. Claar Advisors LLC purchased a new position in Bio-Rad Laboratories during the third quarter worth about $13,333,000. Finally, TimesSquare Capital Management LLC boosted its holdings in Bio-Rad Laboratories by 7.0% during the third quarter. TimesSquare Capital Management LLC now owns 665,100 shares of the medical research company’s stock worth $147,799,000 after purchasing an additional 43,450 shares during the last quarter. Institutional investors and hedge funds own 63.72% of the company’s stock.
In other news, VP James R. Stark sold 746 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $270.51, for a total value of $201,800.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christine A. Tsingos sold 4,980 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $249.40, for a total transaction of $1,242,012.00. Following the completion of the sale, the chief financial officer now directly owns 7,283 shares in the company, valued at approximately $1,816,380.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,126 shares of company stock worth $2,309,426. Insiders own 28.29% of the company’s stock.
Bio-Rad Laboratories announced that its board has initiated a stock repurchase plan on Tuesday, November 28th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Several analysts have commented on BIO shares. Zacks Investment Research raised shares of Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. TheStreet raised shares of Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $290.00 price objective (up previously from $250.00) on shares of Bio-Rad Laboratories in a research report on Wednesday, November 29th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Bio-Rad Laboratories currently has a consensus rating of “Buy” and an average price target of $277.75.
About Bio-Rad Laboratories
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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