PEAK6 Investments LLC Makes New $956,000 Investment in Bio-Rad Laboratories, Inc. (NYSE:BIO)

PEAK6 Investments LLC acquired a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 3rd quarter, HoldingsChannel reports. The fund acquired 2,857 shares of the medical research company’s stock, valued at approximately $956,000.

A number of other institutional investors have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Bio-Rad Laboratories by 1.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 441,098 shares of the medical research company’s stock valued at $147,583,000 after buying an additional 4,260 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Bio-Rad Laboratories by 8.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,332 shares of the medical research company’s stock valued at $2,119,000 after acquiring an additional 511 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Bio-Rad Laboratories by 82.6% in the third quarter. MetLife Investment Management LLC now owns 9,900 shares of the medical research company’s stock valued at $3,312,000 after purchasing an additional 4,478 shares during the period. Glenmede Trust Co. NA acquired a new position in Bio-Rad Laboratories during the 3rd quarter worth $351,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Bio-Rad Laboratories by 38.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 86,782 shares of the medical research company’s stock worth $29,036,000 after purchasing an additional 24,052 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BIO shares. Citigroup boosted their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective on the stock. Finally, Royal Bank of Canada boosted their target price 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, October 31st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $391.80.

Insider Activity

In related news, EVP James Barry sold 623 shares of the stock in a transaction 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 in the company, valued at $48,582.03. This represents a 80.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew J. Last sold 3,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $329.94, for a total transaction of $989,820.00. Following the transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. The trade was 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.

Bio-Rad Laboratories Stock Down 0.5 %

BIO stock opened at $338.72 on Tuesday. The company’s 50 day moving average is $340.77 and its two-hundred day moving average is $318.04. Bio-Rad Laboratories, Inc. has a twelve month low of $262.12 and a twelve month high of $387.99. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The stock has a market cap of $9.48 billion, a P/E ratio of -12.35 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results 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. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The firm had revenue of $649.70 million during the quarter, compared to analysts’ expectations of $628.18 million. Bio-Rad Laboratories’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 earnings per share. Research analysts expect that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current fiscal year.

Bio-Rad Laboratories 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.