Intrepid Capital Management Inc. Cuts Stake in Bio-Rad Laboratories, Inc. (BIO)
Intrepid Capital Management Inc. trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 79.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,182 shares of the medical research company’s stock after selling 20,122 shares during the quarter. Bio-Rad Laboratories accounts for approximately 0.5% of Intrepid Capital Management Inc.’s portfolio, making the stock its 26th largest holding. Intrepid Capital Management Inc.’s holdings in Bio-Rad Laboratories were worth $1,152,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in BIO. Segall Bryant & Hamill LLC grew its stake in Bio-Rad Laboratories by 12.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 35,153 shares of the medical research company’s stock valued at $7,812,000 after purchasing an additional 3,790 shares in the last quarter. Magnetar Financial LLC grew its stake in Bio-Rad Laboratories by 40.7% during the 3rd quarter. Magnetar Financial LLC now owns 5,799 shares of the medical research company’s stock valued at $1,289,000 after purchasing an additional 1,676 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in Bio-Rad Laboratories during the 3rd quarter valued at approximately $7,872,000. AMP Capital Investors Ltd grew its stake in Bio-Rad Laboratories by 893.1% during the 3rd quarter. AMP Capital Investors Ltd now owns 17,280 shares of the medical research company’s stock valued at $3,840,000 after purchasing an additional 15,540 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Bio-Rad Laboratories by 44.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 73,463 shares of the medical research company’s stock valued at $16,325,000 after purchasing an additional 22,755 shares in the last quarter. Institutional investors own 63.87% of the company’s stock.
In related news, EVP Giovanni Magni sold 2,400 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $253.01, for a total transaction of $607,224.00. Following the transaction, the executive vice president now directly owns 9,251 shares in the company, valued at $2,340,595.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Crowley sold 1,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $258.39, for a total value of $258,390.00. Following the transaction, the executive vice president now owns 2,492 shares in the company, valued at $643,907.88. The disclosure for this sale can be found here. Insiders have sold 4,146 shares of company stock worth $1,067,414 in the last quarter. 28.29% of the stock is currently owned by corporate insiders.
Several research analysts have recently commented on the company. Wells Fargo & Company reiterated an “outperform” rating and issued a $290.00 target price (up previously from $250.00) on shares of Bio-Rad Laboratories in a research report on Wednesday, November 29th. TheStreet upgraded Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Zacks Investment Research upgraded Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $255.00 target price on shares of Bio-Rad Laboratories in a research report on Monday, September 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $273.33.
Shares of Bio-Rad Laboratories, Inc. (BIO) opened at $254.97 on Friday. The stock has a market capitalization of $7,548.79, a P/E ratio of 80.52, a P/E/G ratio of 3.79 and a beta of 0.97. Bio-Rad Laboratories, Inc. has a 1-year low of $175.55 and a 1-year high of $273.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.06 and a quick ratio of 2.77.
Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.37. Bio-Rad Laboratories had a return on equity of 3.44% and a net margin of 1.15%. The company had revenue of $535.00 million for the quarter, compared to the consensus estimate of $507.99 million. During the same quarter in the previous year, the business earned $0.62 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. 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 authorized a stock repurchase plan on Tuesday, November 28th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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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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