Sector Gamma AS Makes New $7.62 Million Investment in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Sector Gamma AS bought a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 23,609 shares of the medical research company’s stock, valued at approximately $7,623,000. Bio-Rad Laboratories makes up about 1.8% of Sector Gamma AS’s investment portfolio, making the stock its 21st largest holding. Sector Gamma AS owned 0.08% of Bio-Rad Laboratories at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $42,000. ING Groep NV acquired a new stake in shares of Bio-Rad Laboratories in the third quarter valued at about $44,000. Bfsg LLC acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $77,000. Signaturefd LLC increased its stake in shares of Bio-Rad Laboratories by 15.8% in the fourth quarter. Signaturefd LLC now owns 352 shares of the medical research company’s stock valued at $114,000 after buying an additional 48 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in shares of Bio-Rad Laboratories by 25.0% in the third quarter. Banque Cantonale Vaudoise now owns 375 shares of the medical research company’s stock valued at $135,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 0.1 %

NYSE:BIO traded up $0.34 on Friday, hitting $275.94. The stock had a trading volume of 179,207 shares, compared to its average volume of 200,184. The business’s fifty day moving average is $324.94 and its 200 day moving average is $317.57. The company has a market cap of $7.87 billion, a PE ratio of -12.84 and a beta of 0.87. The company has a quick ratio of 4.34, a current ratio of 5.83 and a debt-to-equity ratio of 0.14. Bio-Rad Laboratories, Inc. has a 52 week low of $261.59 and a 52 week high of $473.50.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.17. The business had revenue of $681.18 million for the quarter, compared to analyst estimates of $685.00 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.31 earnings per share. On average, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BIO. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their price target for the company from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Royal Bank of Canada cut their target price on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. UBS Group upped their target price on Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Bio-Rad Laboratories currently has an average rating of “Moderate Buy” and an average price target of $468.00.

Insider Transactions at Bio-Rad Laboratories

In other news, EVP Michael Crowley sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total value of $1,008,000.00. Following the completion of the sale, the executive vice president now directly owns 6,942 shares of the company’s stock, valued at $2,332,512. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 17.06% of the company’s stock.

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.