People s United Financial Inc. Trims Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

People s United Financial Inc. cut its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,870 shares of the medical research company’s stock after selling 60 shares during the quarter. People s United Financial Inc.’s holdings in Bio-Rad Laboratories were worth $3,782,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BIO. First Mercantile Trust Co. bought a new position in Bio-Rad Laboratories during the first quarter worth $57,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Bio-Rad Laboratories during the second quarter worth $58,000. CSat Investment Advisory L.P. lifted its stake in Bio-Rad Laboratories by 45.2% during the first quarter. CSat Investment Advisory L.P. now owns 122 shares of the medical research company’s stock worth $70,000 after purchasing an additional 38 shares during the last quarter. Sandy Spring Bank bought a new position in Bio-Rad Laboratories during the second quarter worth $97,000. Finally, Eaton Vance Management bought a new position in Bio-Rad Laboratories during the first quarter worth $109,000. Hedge funds and other institutional investors own 63.14% of the company’s stock.

In related news, CFO Ilan Daskal sold 270 shares of the stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $820.06, for a total value of $221,416.20. Following the completion of the transaction, the chief financial officer now owns 9 shares in the company, valued at approximately $7,380.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Annette Tumolo sold 600 shares of the stock in a transaction on Thursday, August 26th. The shares were sold at an average price of $792.58, for a total value of $475,548.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,497 shares of company stock worth $4,939,591. 27.67% of the stock is owned by corporate insiders.

Several equities research analysts have weighed in on the company. Zacks Investment Research raised Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $806.00 target price on the stock in a research report on Wednesday, August 4th. Wells Fargo & Company increased their target price on Bio-Rad Laboratories from $735.00 to $930.00 and gave the stock an “overweight” rating in a research report on Friday, July 30th.

Shares of BIO opened at $788.35 on Monday. The firm has a market capitalization of $23.47 billion, a price-to-earnings ratio of 5.88 and a beta of 0.85. Bio-Rad Laboratories, Inc. has a one year low of $490.73 and a one year high of $832.70. The stock’s fifty day moving average is $755.61 and its 200-day moving average is $657.25.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Wednesday, July 28th. The medical research company reported $3.54 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.88. The company had revenue of $715.93 million for the quarter, compared to analyst estimates of $610.40 million. Bio-Rad Laboratories had a return on equity of 4.65% and a net margin of 140.48%. On average, research analysts expect that Bio-Rad Laboratories, Inc. will post 14.2 earnings per share for the current fiscal year.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc engages in the development and production of specialty chemicals used in biochemical, pharmaceutical, and other life science research applications. It operates through the Life Sciences and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments.

See Also: Golden Cross

Want to see what other hedge funds are holding BIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bio-Rad Laboratories, Inc. (NYSE:BIO).

Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

Receive News & Ratings for Bio-Rad Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.