Paloma Partners Management Co Acquires 6,614 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Paloma Partners Management Co raised its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 350.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,500 shares of the medical research company’s stock after buying an additional 6,614 shares during the quarter. Paloma Partners Management Co’s holdings in Bio-Rad Laboratories were worth $2,844,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. UMB Bank n.a. increased its position in Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after acquiring an additional 45 shares during the period. Capital Advisors Ltd. LLC increased its holdings in shares of Bio-Rad Laboratories by 193.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after purchasing an additional 62 shares during the period. Gladius Capital Management LP bought a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth about $32,000. Point72 Hong Kong Ltd acquired a new position in shares of Bio-Rad Laboratories during the third quarter valued at about $55,000. Finally, Headlands Technologies LLC bought a new stake in shares of Bio-Rad Laboratories in the second quarter valued at about $51,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the business’s 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 of the company’s stock, valued at approximately $48,582.03. The trade was a 80.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Andrew J. Last sold 3,000 shares of the 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 sale, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 28.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.06% of the stock is owned by company insiders.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $340.53 on Monday. The business has a 50 day simple moving average of $340.77 and a 200 day simple moving average of $317.92. Bio-Rad Laboratories, Inc. has a one year low of $262.12 and a one year high of $387.99. The company has a market capitalization of $9.53 billion, a PE ratio of -12.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52.

Bio-Rad Laboratories (NYSE:BIO) last issued 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. The company had revenue of $649.70 million during the quarter, compared to analysts’ expectations of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $2.33 earnings per share. On average, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BIO has been the topic of several research reports. Citigroup boosted their price target 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. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $391.80.

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.