Bio-Rad Laboratories (NYSE:BIO) Stock: Insider Jonathan Divincenzo Sells 919 Shares

Key Points

• COO Jonathan Divincenzo sold 919 shares for about $358,842, reducing his ownership by 31.9% to 1,962 shares.
• Bio-Rad reported quarterly EPS of $2.65, beating estimates of $2.23; revenue of $656.4 million also topped expectations and rose 0.5% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $366.67; the stock was trading at $375.75 in the article.

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) COO Jonathan Divincenzo sold 919 shares of Bio-Rad Laboratories stock in a transaction on Monday, November 9th. The stock was sold at an average price of $390.47, for a total value of $358,841.93. Following the sale, the chief operating officer owned 1,962 shares in the company, valued at $766,102.14. This trade represents a 31.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Bio-Rad Laboratories Stock Performance

NYSE:BIO traded down $10.24 during trading on Thursday, reaching $375.75. The company's stock had a trading volume of 24,590 shares, compared to its average volume of 305,521. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 9.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.18. The firm has a 50 day moving average of $373.82 and a 200-day moving average of $316.75. Bio-Rad Laboratories, Inc. has a 12 month low of $236.73 and a 12 month high of $396.23.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Bio-Rad Laboratories

Several hedge funds and other institutional investors have recently modified their holdings of BIO. Dimensional Fund Advisors LP boosted its holdings in Bio-Rad Laboratories by 1.1% in the 1st 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. grew its position in shares of Bio-Rad Laboratories by 57.8% in the second quarter. Assenagon Asset Management S.A. now owns 233,227 shares of the medical research company's stock valued at $68,478,000 after purchasing an additional 85,393 shares in the last quarter. Hound Partners LLC raised its stake in shares of Bio-Rad Laboratories by 125.9% during the 1st quarter. Hound Partners LLC now owns 97,724 shares of the medical research company's stock valued at $27,241,000 after purchasing an additional 54,456 shares during the period. Hosking Partners LLP raised its stake in shares of Bio-Rad Laboratories by 1.1% during the 3rd quarter. Hosking Partners LLP now owns 95,472 shares of the medical research company's stock valued at $36,061,000 after purchasing an additional 1,042 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of Bio-Rad Laboratories during the 2nd quarter valued at $17,690,000. Institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Company Profile

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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