Bio-Rad Laboratories, Inc. $BIO Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC trimmed its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,328 shares of the medical research company’s stock after selling 1,890 shares during the quarter. Parnassus Investments LLC’s holdings in Bio-Rad Laboratories were worth $88,415,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First Eagle Investment Management LLC increased its stake in shares of Bio-Rad Laboratories by 60.7% during the second quarter. First Eagle Investment Management LLC now owns 2,517,313 shares of the medical research company’s stock worth $607,478,000 after buying an additional 951,123 shares during the period. Norges Bank acquired a new stake in shares of Bio-Rad Laboratories in the 2nd quarter valued at $30,987,000. Ilex Capital Partners UK LLP raised its holdings in shares of Bio-Rad Laboratories by 1,790.3% in the 2nd quarter. Ilex Capital Partners UK LLP now owns 120,885 shares of the medical research company’s stock valued at $29,172,000 after purchasing an additional 114,490 shares in the last quarter. Boston Trust Walden Corp purchased a new stake in shares of Bio-Rad Laboratories during the 3rd quarter worth $26,763,000. Finally, Scopia Capital Management LP acquired a new position in shares of Bio-Rad Laboratories during the second quarter worth $22,862,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Buying and Selling at Bio-Rad Laboratories

In other news, EVP James Barry sold 700 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $306.18, for a total value of $214,326.00. Following the transaction, the executive vice president owned 510 shares of the company’s stock, valued at approximately $156,151.80. The trade was a 57.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on BIO shares. Wells Fargo & Company increased their price objective on Bio-Rad Laboratories from $265.00 to $340.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a report on Monday, December 29th. Citigroup lifted their price target on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $358.50.

Bio-Rad Laboratories Trading Up 1.4%

Shares of Bio-Rad Laboratories stock opened at $323.45 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.94 and a current ratio of 5.44. The company has a market capitalization of $8.73 billion, a P/E ratio of -13.31 and a beta of 1.18. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $373.69. The company’s fifty day moving average is $312.09 and its two-hundred day moving average is $291.70.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Wednesday, October 29th. The medical research company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.04). Bio-Rad Laboratories had a positive return on equity of 4.19% and a negative net margin of 26.43%.The business had revenue of $653.00 million for the quarter, compared to analyst estimates of $651.30 million. During the same quarter last year, the company posted $2.01 EPS. Bio-Rad Laboratories’s quarterly revenue was up .5% on a year-over-year basis. Analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.