Quadrature Capital Ltd Sells 15,176 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Quadrature Capital Ltd reduced its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 63.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,644 shares of the medical research company’s stock after selling 15,176 shares during the period. Quadrature Capital Ltd’s holdings in Bio-Rad Laboratories were worth $2,988,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at about $563,000. Assenagon Asset Management S.A. boosted its stake in Bio-Rad Laboratories by 104.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 12,605 shares of the medical research company’s stock valued at $4,070,000 after purchasing an additional 6,429 shares during the last quarter. Blue Trust Inc. increased its holdings in Bio-Rad Laboratories by 42.0% during the 4th quarter. Blue Trust Inc. now owns 480 shares of the medical research company’s stock worth $172,000 after purchasing an additional 142 shares in the last quarter. Oak Thistle LLC raised its stake in shares of Bio-Rad Laboratories by 51.2% in the fourth quarter. Oak Thistle LLC now owns 1,913 shares of the medical research company’s stock worth $618,000 after purchasing an additional 648 shares during the last quarter. Finally, GAM Holding AG bought a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $323,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Buying and Selling

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $281.91, for a total transaction of $104,024.79. Following the sale, the executive vice president now owns 6,573 shares in the company, valued at $1,852,994.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.06% of the stock is owned by company insiders.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO traded up $4.25 during midday trading on Friday, hitting $319.42. 243,348 shares of the company’s stock were exchanged, compared to its average volume of 236,487. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average price is $288.60 and its two-hundred day moving average price is $307.05. The company has a market cap of $9.11 billion, a price-to-earnings ratio of -30.83 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 12-month low of $261.59 and a 12-month high of $431.79.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. The business had revenue of $610.82 million during the quarter, compared to analysts’ expectations of $619.09 million. Bio-Rad Laboratories had a negative net margin of 12.37% and a positive return on equity of 3.59%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.34 EPS. As a group, research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $315.00 target price (down previously from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. UBS Group decreased their price objective on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Bio-Rad Laboratories has a consensus rating of “Moderate Buy” and an average target price of $436.67.

Bio-Rad Laboratories Company Profile

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.