A number of other brokerages have also recently weighed in on BIO. Goldman Sachs Group raised Bio-Rad Laboratories from a buy rating to a conviction-buy rating and set a $400.00 price objective on the stock in a report on Tuesday, August 20th. Barclays raised their price target on Bio-Rad Laboratories from $350.00 to $380.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $387.00.
Shares of NYSE BIO opened at $342.02 on Friday. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 58.57, a P/E/G ratio of 3.17 and a beta of 1.18. The company has a current ratio of 4.68, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11. Bio-Rad Laboratories has a 1-year low of $220.05 and a 1-year high of $348.39. The stock’s 50-day moving average is $333.27 and its 200 day moving average is $311.85.
In related news, EVP John Hertia sold 838 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $328.29, for a total transaction of $275,107.02. Following the transaction, the executive vice president now directly owns 18,966 shares in the company, valued at approximately $6,226,348.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Timothy S. Ernst sold 310 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $320.00, for a total value of $99,200.00. Following the transaction, the executive vice president now owns 3,100 shares in the company, valued at $992,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,876 shares of company stock worth $2,634,905. 27.84% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BIO. BlackRock Inc. boosted its position in shares of Bio-Rad Laboratories by 1.2% during the second quarter. BlackRock Inc. now owns 1,950,805 shares of the medical research company’s stock valued at $609,803,000 after purchasing an additional 22,263 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Bio-Rad Laboratories by 13.6% during the second quarter. Royal Bank of Canada now owns 6,677 shares of the medical research company’s stock valued at $2,086,000 after purchasing an additional 798 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Bio-Rad Laboratories during the second quarter valued at approximately $679,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Bio-Rad Laboratories during the second quarter valued at approximately $679,000. Finally, Zacks Investment Management boosted its position in shares of Bio-Rad Laboratories by 469.5% during the second quarter. Zacks Investment Management now owns 4,237 shares of the medical research company’s stock valued at $1,325,000 after purchasing an additional 3,493 shares in the last quarter. Institutional investors and hedge funds own 62.13% of the company’s stock.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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