Bio-Rad Laboratories (NYSE:BIO) COO Jonathan Divincenzo Sells 919 Shares of Stock

Bio-Rad Laboratories, Inc. (NYSE:BIO) COO Jonathan Divincenzo sold 919 shares of Bio-Rad Laboratories stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $390.47, for a total value of $358,841.93. Following the completion of the transaction, the chief operating officer owned 1,962 shares of the company’s stock, valued at approximately $766,102.14. This represents a 31.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $370.41 on Friday. Bio-Rad Laboratories, Inc. has a twelve month low of $236.73 and a twelve month high of $396.23. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 9.76 and a beta of 1.06. The company has a current ratio of 3.18, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average of $373.46 and a 200 day moving average of $317.11.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Wednesday, November 4th. The medical research company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.42. Bio-Rad Laboratories had a net margin of 39.45% and a return on equity of 3.58%. The firm had revenue of $656.40 million for the quarter, compared to analysts’ expectations of $649.94 million. During the same quarter last year, the company earned $2.26 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on BIO. Wells Fargo & Company upped their target price on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Royal Bank Of Canada increased their price target on Bio-Rad Laboratories from $390.00 to $440.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings raised Bio-Rad Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Finally, Citigroup upped their target price on Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Bio-Rad Laboratories presently has an average rating of “Hold” and a consensus target price of $366.67.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of BIO. Nisa Investment Advisors LLC raised its stake in Bio-Rad Laboratories by 6.4% during the third quarter. Nisa Investment Advisors LLC now owns 648 shares of the medical research company’s stock worth $245,000 after purchasing an additional 39 shares during the period. Cetera Investment Advisers increased its holdings in shares of Bio-Rad Laboratories by 0.6% during the 1st quarter. Cetera Investment Advisers now owns 7,596 shares of the medical research company’s stock worth $2,117,000 after buying an additional 48 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of Bio-Rad Laboratories by 8.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 954 shares of the medical research company’s stock worth $280,000 after buying an additional 73 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Bio-Rad Laboratories by 7.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,142 shares of the medical research company’s stock worth $431,000 after buying an additional 81 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Bio-Rad Laboratories by 2.3% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 3,808 shares of the medical research company’s stock valued at $1,438,000 after buying an additional 86 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc. develops, manufactures, and markets products used in life science research and clinical diagnostics. Founded in 1952 by David and Alice Schwartz, the company is headquartered in Hercules, California, and serves customers around the world. Through its Life Science segment, Bio-Rad supplies instruments, reagents, and software for areas including cell biology, genomics, protein analysis, and drug discovery. Its products support research at academic institutions, biotechnology and pharmaceutical companies, and other laboratories.