Bio-Rad Laboratories (NYSE:BIO) EVP Sells $348,325.34 in Stock

Key Points

• Bio-Rad EVP Courtney Enloe sold 902 shares for $348,325 at an average price of $386.17, reducing her direct holdings by 54.6% to 750 shares.
• The company beat quarterly expectations, reporting EPS of $2.65 versus the $2.23 consensus and revenue of $656.4 million; revenue increased 0.5% year over year.
• Shares traded at $374.69 in Thursday’s session. Analysts’ consensus rating was “Hold,” with an average price target of $366.67.

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) EVP Courtney Enloe sold 902 shares of Bio-Rad Laboratories stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $386.17, for a total transaction of $348,325.34. Following the completion of the transaction, the executive vice president directly owned 750 shares of the company's stock, valued at $289,627.50. The trade was a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO traded down $11.31 during mid-day trading on Thursday, hitting $374.69. 53,230 shares of the company's stock traded hands, compared to its average volume of 305,648. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.18 and a quick ratio of 2.37. Bio-Rad Laboratories, Inc. has a 1 year low of $236.73 and a 1 year high of $396.23. The company's 50-day moving average is $373.82 and its two-hundred day moving average is $316.75. The company has a market capitalization of $10.02 billion, a P/E ratio of 9.87 and a beta of 1.06.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The medical research company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.23 by $0.42. Bio-Rad Laboratories had a return on equity of 3.58% and a net margin of 39.45%. The company had revenue of $656.40 million during the quarter, compared to analyst estimates of $649.94 million. During the same quarter last year, the business posted $2.26 earnings per share. The firm's revenue was up .5% on a year-over-year basis. On average, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.71 EPS for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Bio-Rad Laboratories by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,089,323 shares of the medical research company's stock worth $303,637,000 after buying an additional 12,251 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Bio-Rad Laboratories by 57.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 233,227 shares of the medical research company's stock valued at $68,478,000 after acquiring an additional 85,393 shares during the period. Hosking Partners LLP increased its holdings in shares of Bio-Rad Laboratories by 1.1% in the 3rd quarter. Hosking Partners LLP now owns 95,472 shares of the medical research company's stock valued at $36,061,000 after acquiring an additional 1,042 shares during the period. Hound Partners LLC increased its holdings in shares of Bio-Rad Laboratories by 125.9% in the 1st quarter. Hound Partners LLC now owns 97,724 shares of the medical research company's stock valued at $27,241,000 after acquiring an additional 54,456 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Bio-Rad Laboratories in the 2nd quarter worth $17,690,000. 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.

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