Short Interest in Bio-Rad Laboratories, Inc. (NYSE:BIO) Rises By 11.7%

Bio-Rad Laboratories, Inc. (NYSE:BIO) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,050,000 shares, a growth of 11.7% from the August 15th total of 940,000 shares. Based on an average trading volume of 259,800 shares, the short-interest ratio is currently 4.0 days. Approximately 5.5% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Jefferies Financial Group restated a “hold” rating and set a $315.00 price objective (down previously from $440.00) on shares of Bio-Rad Laboratories in a research note on Monday, June 3rd. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price target for the company. Citigroup increased their price objective on shares of Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $401.00 price target on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $358.20.

Insider Buying and Selling

In related news, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the completion of the transaction, the chief operating officer now owns 7,559 shares of the company’s stock, valued at $2,494,016.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Andrew J. Last sold 3,000 shares of the firm’s 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 transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at approximately $2,494,016.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James Barry sold 623 shares of Bio-Rad Laboratories stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the transaction, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. The disclosure for this sale can be found here. Corporate insiders own 17.06% of the company’s stock.

Hedge Funds Weigh In On Bio-Rad Laboratories

Several institutional investors have recently made changes to their positions in BIO. Capital Advisors Ltd. LLC increased its position in Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after buying an additional 62 shares during the period. Sound Income Strategies LLC bought a new position in Bio-Rad Laboratories in the 1st quarter worth about $38,000. Principal Securities Inc. acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $41,000. EntryPoint Capital LLC bought a new stake in shares of Bio-Rad Laboratories during the first quarter valued at approximately $51,000. Finally, Headlands Technologies LLC acquired a new position in shares of Bio-Rad Laboratories during the second quarter worth approximately $51,000. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $333.66 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.28 and a quick ratio of 4.63. Bio-Rad Laboratories has a 12 month low of $261.59 and a 12 month high of $377.88. The company has a fifty day moving average price of $319.89 and a two-hundred day moving average price of $307.37. The company has a market cap of $9.52 billion, a PE ratio of -32.21 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.12 by $0.99. The business had revenue of $638.50 million during the quarter, compared to analyst estimates of $645.79 million. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.00 EPS. Research analysts expect that Bio-Rad Laboratories will post 10.31 earnings per share for the current year.

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.