Entropy Technologies LP Takes $1.41 Million Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Entropy Technologies LP purchased a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,200 shares of the medical research company’s stock, valued at approximately $1,405,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Atria Investments Inc boosted its holdings in shares of Bio-Rad Laboratories by 9.2% during the 3rd quarter. Atria Investments Inc now owns 2,645 shares of the medical research company’s stock valued at $885,000 after acquiring an additional 223 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Bio-Rad Laboratories by 84.8% in the third quarter. Assetmark Inc. now owns 305 shares of the medical research company’s stock worth $102,000 after buying an additional 140 shares during the last quarter. Rovin Capital UT ADV purchased a new position in shares of Bio-Rad Laboratories in the third quarter worth approximately $669,000. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Bio-Rad Laboratories by 10.2% in the third quarter. Kornitzer Capital Management Inc. KS now owns 38,517 shares of the medical research company’s stock worth $12,887,000 after buying an additional 3,564 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Bio-Rad Laboratories by 95.6% in the third quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock worth $14,836,000 after buying an additional 21,669 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Activity

In other news, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the sale, the chief operating officer now owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the sale, the chief operating officer now owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James Barry sold 623 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the sale, the executive vice president now owns 147 shares in the company, valued at $48,582.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BIO. Royal Bank of Canada raised their price objective on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective on the stock. Citigroup raised their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $391.80.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $363.20 on Thursday. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of -13.29 and a beta of 0.93. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories, Inc. has a 12 month low of $262.12 and a 12 month high of $387.99. The company’s 50 day moving average is $340.33 and its two-hundred day moving average is $313.52.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.85. The firm had revenue of $649.70 million for the quarter, compared to analysts’ expectations of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 earnings per share. As a group, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.93 earnings per share for the current year.

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.