Moran Wealth Management LLC Lowers Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Moran Wealth Management LLC lessened its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,349 shares of the medical research company’s stock after selling 50 shares during the period. Moran Wealth Management LLC’s holdings in Bio-Rad Laboratories were worth $786,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC raised its holdings in shares of Bio-Rad Laboratories by 3.3% in the third quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock worth $334,000 after buying an additional 32 shares during the period. UMB Bank n.a. lifted its position in shares of Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after purchasing an additional 45 shares during the last quarter. Wahed Invest LLC lifted its position in shares of Bio-Rad Laboratories by 14.0% during the first quarter. Wahed Invest LLC now owns 399 shares of the medical research company’s stock worth $138,000 after purchasing an additional 49 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Bio-Rad Laboratories by 193.8% during the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 62 shares during the period. Finally, Natixis grew its holdings in shares of Bio-Rad Laboratories by 3.4% in the first quarter. Natixis now owns 1,986 shares of the medical research company’s stock worth $687,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 0.7 %

Bio-Rad Laboratories stock opened at $325.99 on Friday. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99. The business has a fifty day moving average of $340.38 and a two-hundred day moving average of $315.33. The firm has a market cap of $9.13 billion, a P/E ratio of -11.93 and a beta of 0.93. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16.

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

Insider Activity

In related news, EVP James Barry sold 623 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 of the company’s stock, valued at $48,582.03. This represents a 80.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andrew J. Last sold 3,000 shares of the firm’s 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 completion of the sale, the chief operating officer now owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. This trade represents a 28.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

Analysts Set New Price Targets

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

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.