Bio-Rad Laboratories (NYSE:BIO) Sets New 12-Month High at $374.93

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) reached a new 52-week high on Wednesday . The stock traded as high as $374.93 and last traded at $371.36, with a volume of 162048 shares traded. The stock had previously closed at $371.58.

Several research firms have 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 research report on Tuesday, August 20th. ValuEngine cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $378.75.

The company has a 50-day simple moving average of $353.30 and a two-hundred day simple moving average of $326.97. The company has a quick ratio of 3.36, a current ratio of 4.72 and a debt-to-equity ratio of 0.12. The firm has a market cap of $11.06 billion, a PE ratio of 63.59, a PEG ratio of 3.42 and a beta of 1.18.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, October 31st. The medical research company reported $1.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.25. Bio-Rad Laboratories had a return on equity of 4.30% and a net margin of 16.14%. The business had revenue of $560.60 million for the quarter, compared to analysts’ expectations of $561.40 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. As a group, equities analysts predict that Bio-Rad Laboratories, Inc. will post 7.2 earnings per share for the current year.

In other news, EVP John Hertia sold 444 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $336.47, for a total transaction of $149,392.68. Following the transaction, the executive vice president now owns 18,206 shares of the company’s stock, valued at approximately $6,125,772.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James R. Stark sold 848 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $351.45, for a total value of $298,029.60. The disclosure for this sale can be found here. In the last three months, insiders sold 7,325 shares of company stock worth $2,471,010. Insiders own 27.84% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. World Asset Management Inc raised its stake in shares of Bio-Rad Laboratories by 4.7% during the 3rd quarter. World Asset Management Inc now owns 694 shares of the medical research company’s stock valued at $231,000 after purchasing an additional 31 shares during the period. Martin & Co. Inc. TN raised its stake in shares of Bio-Rad Laboratories by 0.6% during the 2nd quarter. Martin & Co. Inc. TN now owns 5,660 shares of the medical research company’s stock valued at $1,769,000 after purchasing an additional 35 shares during the period. LS Investment Advisors LLC raised its stake in shares of Bio-Rad Laboratories by 7.0% during the 3rd quarter. LS Investment Advisors LLC now owns 691 shares of the medical research company’s stock valued at $230,000 after purchasing an additional 45 shares during the period. BB&T Corp raised its stake in shares of Bio-Rad Laboratories by 3.2% during the 2nd quarter. BB&T Corp now owns 1,503 shares of the medical research company’s stock valued at $469,000 after purchasing an additional 47 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of Bio-Rad Laboratories by 1.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,720 shares of the medical research company’s stock valued at $1,163,000 after purchasing an additional 50 shares during the period. 63.79% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Company Profile (NYSE:BIO)

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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