Gladius Capital Management LP Invests $32,000 in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Gladius Capital Management LP purchased a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 96 shares of the medical research company’s stock, valued at approximately $32,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. First Eagle Investment Management LLC increased its stake in shares of 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 buying an additional 634,311 shares during the period. Swedbank AB purchased a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $1,824,000. Gabelli Funds LLC increased its holdings in Bio-Rad Laboratories by 16.8% during the first quarter. Gabelli Funds LLC now owns 41,800 shares of the medical research company’s stock valued at $14,457,000 after buying an additional 6,000 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Bio-Rad Laboratories by 320.6% during the second quarter. Harbor Capital Advisors Inc. now owns 3,663 shares of the medical research company’s stock worth $1,000,000 after buying an additional 2,792 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Bio-Rad Laboratories by 341.7% during the 3rd quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the medical research company’s stock valued at $1,773,000 after acquiring an additional 4,100 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $329.94, for a total transaction of $989,820.00. Following the completion of the sale, the chief operating officer now directly owns 7,559 shares in the company, valued at approximately $2,494,016.46. The trade was a 28.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Barry sold 623 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value 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. Insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of BIO opened at $320.31 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. The stock’s 50 day moving average is $340.48 and its two-hundred day moving average is $314.38. Bio-Rad Laboratories, Inc. has a 12 month low of $262.12 and a 12 month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.16 by $0.85. The company had revenue of $649.70 million during the quarter, compared to analyst estimates of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 EPS. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 9.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on BIO shares. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. 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 report on Thursday, October 31st. Wells Fargo & Company initiated 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 objective for the company. Finally, Citigroup lifted their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $391.80.

About Bio-Rad Laboratories

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.