Bio-Rad Laboratories (NYSE:BIO) COO Jonathan Divincenzo Sells 919 Shares of Company Stock

Bio-Rad Laboratories, Inc. (NYSE:BIO) COO Jonathan Divincenzo sold 919 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $390.47, for a total transaction of $358,841.93. Following the completion of the transaction, the chief operating officer directly owned 1,962 shares of the company’s stock, valued at approximately $766,102.14. The trade was a 31.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Bio-Rad Laboratories Price Performance

Shares of BIO traded down $10.24 during trading hours on Thursday, reaching $375.75. 24,590 shares of the company’s stock traded hands, compared to its average volume of 305,521. Bio-Rad Laboratories, Inc. has a 12 month low of $236.73 and a 12 month high of $396.23. The company has a current ratio of 3.18, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The stock has a market cap of $10.05 billion, a PE ratio of 9.90 and a beta of 1.06. The firm’s 50 day simple moving average is $373.82 and its 200-day simple moving average is $316.75.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Wednesday, November 4th. The medical research company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.42. The business had revenue of $656.40 million for the quarter, compared to analysts’ expectations of $649.94 million. Bio-Rad Laboratories had a return on equity of 3.58% and a net margin of 39.45%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.26 earnings per share. Equities analysts expect that Bio-Rad Laboratories, Inc. will post 9.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BIO. Zacks Research upgraded shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Royal Bank Of Canada boosted their price target on Bio-Rad Laboratories from $390.00 to $440.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Wells Fargo & Company boosted their price target on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Citigroup upped their price target on Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Bio-Rad Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Bio-Rad Laboratories presently has a consensus rating of “Hold” and an average price target of $366.67.

Institutional Trading of Bio-Rad Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the stock. one8zero8 LLC bought a new stake in Bio-Rad Laboratories in the third quarter worth $255,000. Boston Partners grew its stake in shares of Bio-Rad Laboratories by 16.5% in the third quarter. Boston Partners now owns 10,535 shares of the medical research company’s stock worth $3,979,000 after acquiring an additional 1,495 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Bio-Rad Laboratories by 93.2% during the third quarter. Voya Investment Management LLC now owns 2,683 shares of the medical research company’s stock valued at $1,013,000 after acquiring an additional 1,294 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Bio-Rad Laboratories by 44.1% during the third quarter. Global Retirement Partners LLC now owns 533 shares of the medical research company’s stock valued at $201,000 after acquiring an additional 163 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Bio-Rad Laboratories in the 3rd quarter worth about $424,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc. develops, manufactures, and markets products used in life science research and clinical diagnostics. Founded in 1952 by David and Alice Schwartz, the company is headquartered in Hercules, California, and serves customers around the world. Through its Life Science segment, Bio-Rad supplies instruments, reagents, and software for areas including cell biology, genomics, protein analysis, and drug discovery. Its products support research at academic institutions, biotechnology and pharmaceutical companies, and other laboratories.