PEAK6 Investments LLC Acquires Shares of 2,857 Bio-Rad Laboratories, Inc. (NYSE:BIO)

PEAK6 Investments LLC bought a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,857 shares of the medical research company’s stock, valued at approximately $956,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp grew its holdings in Bio-Rad Laboratories by 97.8% in the third quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock valued at $436,861,000 after purchasing an additional 644,530 shares during the period. Select Equity Group L.P. raised its position in Bio-Rad Laboratories by 26.2% during the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after acquiring an additional 134,856 shares during the period. First Eagle Investment Management LLC lifted its holdings in Bio-Rad Laboratories by 32,296.9% during the second quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock valued at $173,773,000 after purchasing an additional 634,311 shares in the last quarter. Earnest Partners LLC lifted its holdings in Bio-Rad Laboratories by 17.8% during the second quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock valued at $165,720,000 after purchasing an additional 91,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Bio-Rad Laboratories by 64.4% during the second quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock worth $135,081,000 after purchasing an additional 193,700 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Andrew J. Last sold 3,000 shares of the business’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 value of $989,820.00. Following the sale, the chief operating officer now directly owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. The trade was a 28.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Barry sold 623 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the transaction, the executive vice president now directly owns 147 shares of the company’s stock, valued at $48,582.03. The trade was a 80.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Stock Performance

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

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) 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 analyst estimates of $628.18 million. Bio-Rad Laboratories’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 earnings per share. On average, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BIO shares. Royal Bank of Canada raised their price target on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company began coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price target on the stock. Citigroup increased their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Rad Laboratories has an average rating of “Moderate Buy” and an average price target of $391.80.

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.