First Manhattan Co. Acquires 250 Shares of Bio-Rad Laboratories, Inc. (BIO)
First Manhattan Co. raised its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 71.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 599 shares of the medical research company’s stock after purchasing an additional 250 shares during the quarter. First Manhattan Co.’s holdings in Bio-Rad Laboratories were worth $133,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in Bio-Rad Laboratories in the second quarter valued at $113,000. Pacad Investment Ltd. purchased a new stake in Bio-Rad Laboratories in the second quarter valued at $113,000. Turner Investments LLC purchased a new stake in Bio-Rad Laboratories in the second quarter valued at $136,000. Meeder Asset Management Inc. boosted its holdings in Bio-Rad Laboratories by 3,333.3% in the third quarter. Meeder Asset Management Inc. now owns 618 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 600 shares during the last quarter. Finally, Capital Analysts LLC purchased a new stake in Bio-Rad Laboratories in the second quarter valued at $170,000. 62.59% of the stock is currently owned by institutional investors.
Bio-Rad Laboratories, Inc. (NYSE BIO) opened at $261.42 on Friday. The firm has a market cap of $7,747.70, a PE ratio of 82.99, a price-to-earnings-growth ratio of 3.97 and a beta of 0.88. Bio-Rad Laboratories, Inc. has a 1 year low of $164.44 and a 1 year high of $262.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.01 and a quick ratio of 2.74.
Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.37. The business had revenue of $535.00 million during the quarter, compared to the consensus estimate of $507.99 million. Bio-Rad Laboratories had a net margin of 1.15% and a return on equity of 3.49%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 2.62 EPS for the current year.
Several research firms have commented on BIO. Zacks Investment Research lowered shares of Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $255.00 price target on shares of Bio-Rad Laboratories in a report on Monday, September 18th. TheStreet lowered shares of Bio-Rad Laboratories from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $275.00 price target on shares of Bio-Rad Laboratories in a report on Friday, July 14th. Finally, Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a research report on Thursday, July 13th. They issued an “outperform” rating and a $250.00 price objective for the company. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $260.00.
In other Bio-Rad Laboratories news, EVP Michael Crowley sold 700 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $215.91, for a total value of $151,137.00. Following the completion of the transaction, the executive vice president now owns 2,060 shares in the company, valued at $444,774.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 28.29% of the company’s stock.
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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