Dorsey Wright & Associates lowered its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 47.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,269 shares of the medical research company’s stock after selling 7,514 shares during the quarter. Dorsey Wright & Associates’ holdings in Bio-Rad Laboratories were worth $1,974,000 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 stock. Bank of Montreal Can lifted its holdings in shares of Bio-Rad Laboratories by 12.8% in the 4th quarter. Bank of Montreal Can now owns 18,201 shares of the medical research company’s stock worth $4,343,000 after buying an additional 2,061 shares during the period. Candriam Luxembourg S.C.A. purchased a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth $2,029,000. Magnetar Financial LLC lifted its holdings in shares of Bio-Rad Laboratories by 40.7% in the 3rd quarter. Magnetar Financial LLC now owns 5,799 shares of the medical research company’s stock worth $1,289,000 after buying an additional 1,676 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Bio-Rad Laboratories by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,855 shares of the medical research company’s stock worth $6,861,000 after buying an additional 5,823 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Bio-Rad Laboratories by 8.4% in the 3rd quarter. Janus Henderson Group PLC now owns 36,310 shares of the medical research company’s stock worth $8,069,000 after buying an additional 2,800 shares during the period. Institutional investors own 63.93% of the company’s stock.
Shares of Bio-Rad Laboratories, Inc. (NYSE BIO) opened at $274.11 on Friday. Bio-Rad Laboratories, Inc. has a 1-year low of $194.01 and a 1-year high of $279.59. The firm has a market capitalization of $7,912.20, a price-to-earnings ratio of 78.19, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.93 and a quick ratio of 2.75.
Bio-Rad Laboratories announced that its Board of Directors has authorized a share repurchase program on Tuesday, November 28th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have weighed in on BIO shares. Citigroup upped their target price on Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Wells Fargo & Co lowered their target price on Bio-Rad Laboratories from $290.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. CL King cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a report on Friday, February 16th. TheStreet upgraded Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Finally, Jefferies Group upped their target price on Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $295.20.
In related news, CFO Christine A. Tsingos sold 4,980 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 28.29% of the company’s stock.
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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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