Oppenheimer Asset Management Inc. Sells 50 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Oppenheimer Asset Management Inc. reduced its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,669 shares of the medical research company’s stock after selling 50 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Bio-Rad Laboratories were worth $893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of Bio-Rad Laboratories by 0.9% during the third quarter. Victory Capital Management Inc. now owns 21,294 shares of the medical research company’s stock worth $7,125,000 after purchasing an additional 186 shares during the last quarter. Winslow Asset Management Inc. lifted its stake in Bio-Rad Laboratories by 1.6% in the third quarter. Winslow Asset Management Inc. now owns 24,262 shares of the medical research company’s stock worth $8,118,000 after acquiring an additional 385 shares during the period. Entropy Technologies LP purchased a new stake in Bio-Rad Laboratories in the third quarter worth about $1,405,000. Atria Investments Inc lifted its stake in Bio-Rad Laboratories by 9.2% in the third quarter. Atria Investments Inc now owns 2,645 shares of the medical research company’s stock worth $885,000 after acquiring an additional 223 shares during the period. Finally, Assetmark Inc. lifted its stake in Bio-Rad Laboratories by 84.8% in the third quarter. Assetmark Inc. now owns 305 shares of the medical research company’s stock worth $102,000 after acquiring an additional 140 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock opened at $313.15 on Tuesday. The business has a 50-day moving average of $340.28 and a 200 day moving average of $314.91. Bio-Rad Laboratories, Inc. has a 12 month low of $262.12 and a 12 month high of $387.99. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of -11.46 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 posted its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.85. The firm 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 firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.33 earnings per share. As a group, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 9.93 earnings per share for the current year.

Wall Street Analyst Weigh In

BIO has been the subject of several analyst reports. Citigroup increased their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price target 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 Bio-Rad Laboratories in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective on the stock. Two equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $391.80.

Insiders Place Their Bets

In related news, EVP James Barry sold 623 shares of the company’s 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 transaction, the executive vice president now owns 147 shares of the company’s stock, valued at $48,582.03. This represents a 80.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. This represents a 28.41 % decrease in their position. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by corporate insiders.

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.