Insider Selling: Bio-Rad Laboratories (NYSE:BIO) EVP Sells 1,400 Shares of Stock

Key Points

• Bio-Rad EVP James Barry sold 1,400 shares at an average of $385.63, for about $539,882. After the sale, he directly owned 625 shares, a 69.14% reduction in his holdings.
• Bio-Rad’s latest quarter beat expectations: EPS was $2.65 versus the $2.23 consensus, while revenue of $656.4 million exceeded estimates and rose 0.5% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $366.67; shares were trading at $375.75 in the article.

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) EVP James Barry sold 1,400 shares of the firm's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $385.63, for a total value of $539,882.00. Following the completion of the transaction, the executive vice president directly owned 625 shares in the company, valued at approximately $241,018.75. This represents a 69.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Bio-Rad Laboratories Stock Performance

NYSE BIO traded down $10.24 on Thursday, hitting $375.75. 24,590 shares of the company traded hands, compared to its average volume of 305,521. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 9.89 and a beta of 1.06. The company has a current ratio of 3.18, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The business's 50 day moving average price is $373.82 and its 200-day moving average price is $316.75. Bio-Rad Laboratories, Inc. has a 52-week low of $236.73 and a 52-week high of $396.23.

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 earnings per share (EPS) for the quarter, beating 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 business had revenue of $656.40 million during the quarter, compared to analyst estimates of $649.94 million. During the same quarter in the previous year, the company posted $2.26 earnings per share. Bio-Rad Laboratories's revenue for the quarter was up .5% on a year-over-year basis. Equities analysts expect that Bio-Rad Laboratories, Inc. will post 9.71 earnings per share for the current year.

Institutional Trading of Bio-Rad Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC bought a new position in shares of Bio-Rad Laboratories during the 2nd quarter valued at about $27,000. Hollencrest Capital Management bought a new stake in shares of Bio-Rad Laboratories in the first quarter worth about $28,000. Root Financial Partners LLC bought a new stake in shares of Bio-Rad Laboratories in the third quarter worth about $34,000. Nykredit A S purchased a new stake in shares of Bio-Rad Laboratories in the second quarter worth about $118,000. Finally, Signaturefd LLC lifted its position in shares of Bio-Rad Laboratories by 51.7% in the third quarter. Signaturefd LLC now owns 437 shares of the medical research company's stock worth $165,000 after buying an additional 149 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BIO has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price 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 stock a "hold" rating in a research report on Wednesday, August 5th. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada raised their price objective on shares of Bio-Rad Laboratories from $390.00 to $440.00 and gave the company an "outperform" rating in a research report on Thursday, November 5th. Finally, Weiss Ratings upgraded shares of Bio-Rad Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $366.67.

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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