Gulf International Bank UK Ltd Decreases Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Gulf International Bank UK Ltd lowered its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 0.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,590 shares of the medical research company’s stock after selling 30 shares during the period. Gulf International Bank UK Ltd’s holdings in Bio-Rad Laboratories were worth $2,957,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Mercantile Trust Co. purchased a new stake in Bio-Rad Laboratories in the 1st quarter worth about $57,000. Valley Brook Capital Group increased its holdings in Bio-Rad Laboratories by 91.7% in the 1st quarter. Valley Brook Capital Group now owns 115 shares of the medical research company’s stock worth $65,000 after acquiring an additional 55 shares during the last quarter. CSat Investment Advisory L.P. increased its holdings in Bio-Rad Laboratories by 45.2% in the 1st quarter. CSat Investment Advisory L.P. now owns 122 shares of the medical research company’s stock worth $70,000 after acquiring an additional 38 shares during the last quarter. Sandy Spring Bank purchased a new position in Bio-Rad Laboratories during the 2nd quarter valued at about $97,000. Finally, Eaton Vance Management purchased a new position in Bio-Rad Laboratories during the 1st quarter valued at about $109,000. 63.14% of the stock is owned by institutional investors.

Shares of BIO opened at $785.22 on Friday. The company has a market cap of $23.38 billion, a PE ratio of 5.85 and a beta of 0.85. The stock has a 50-day moving average price of $753.34 and a 200-day moving average price of $654.84. Bio-Rad Laboratories, Inc. has a 12-month low of $490.73 and a 12-month high of $832.70.

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

In related news, EVP Annette Tumolo sold 600 shares of the business’s stock in a transaction that occurred on Thursday, August 26th. The stock was sold at an average price of $792.58, for a total value of $475,548.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy S. Ernst sold 327 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $760.26, for a total value of $248,605.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,497 shares of company stock valued at $4,939,591. Corporate insiders own 27.67% of the company’s stock.

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

Bio-Rad Laboratories Company Profile

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.

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

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