Janney Montgomery Scott LLC Has $1.38 Million Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Janney Montgomery Scott LLC cut its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,131 shares of the medical research company’s stock after selling 135 shares during the period. Janney Montgomery Scott LLC’s holdings in Bio-Rad Laboratories were worth $1,382,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Bio-Rad Laboratories by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,421,334 shares of the medical research company’s stock valued at $837,467,000 after buying an additional 31,445 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Bio-Rad Laboratories during the 2nd quarter worth approximately $180,040,000. Select Equity Group L.P. increased its stake in Bio-Rad Laboratories by 26.2% in the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock valued at $177,391,000 after acquiring an additional 134,856 shares during the last quarter. First Eagle Investment Management LLC raised its position 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. Finally, Earnest Partners LLC lifted its stake 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 worth $165,720,000 after purchasing an additional 91,882 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $350.23 on Friday. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of -12.81 and a beta of 0.93. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $340.67 and its 200-day moving average price is $313.77. 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 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 business had revenue of $649.70 million during the quarter, compared to analyst estimates of $628.18 million. During the same quarter last year, the business earned $2.33 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 9.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Citigroup lifted their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada increased their target price on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $391.80.

Insider Transactions at Bio-Rad Laboratories

In other news, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction 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. This represents a 28.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James Barry sold 623 shares of the stock in a transaction 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 sale, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. This trade represents a 80.91 % 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 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.