Bio-Rad Laboratories, Inc. (NYSE:BIO) Stock Position Raised by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 97.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,303,752 shares of the medical research company’s stock after purchasing an additional 644,530 shares during the period. Van ECK Associates Corp owned 4.57% of Bio-Rad Laboratories worth $436,861,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BIO. Capital Advisors Ltd. LLC grew its holdings 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 buying an additional 62 shares in the last quarter. UMB Bank n.a. boosted its position in Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after acquiring an additional 45 shares during the period. EntryPoint Capital LLC purchased a new position in Bio-Rad Laboratories during the 1st quarter valued at about $51,000. Headlands Technologies LLC acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter valued at about $51,000. Finally, Quarry LP acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter valued at about $59,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Bio-Rad Laboratories Stock Performance

BIO stock opened at $368.42 on Friday. The firm has a 50 day moving average of $333.99 and a two-hundred day moving average of $308.47. Bio-Rad Laboratories, Inc. has a 12 month low of $262.12 and a 12 month high of $372.27. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of -13.48 and a beta of 0.95. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.66%. The firm had revenue of $649.70 million during the quarter, compared to analysts’ expectations of $628.18 million. During the same period in the prior year, the company posted $2.33 earnings per share. Bio-Rad Laboratories’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.45 EPS for the current fiscal year.

Insider Activity

In related news, COO Andrew J. Last sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the sale, the chief operating officer now directly owns 7,559 shares in the company, valued at approximately $2,494,016.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the company’s stock in a transaction dated 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 directly owns 147 shares in the company, valued at $48,582.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the transaction, the chief operating officer now owns 7,559 shares in the company, valued at $2,494,016.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by insiders.

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.