Polar Asset Management Partners Inc. raised its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 19.6% during the second quarter, Holdings Channel reports. The firm owned 174,000 shares of the medical research company’s stock after purchasing an additional 28,500 shares during the period. Bio-Rad Laboratories makes up about 1.0% of Polar Asset Management Partners Inc.’s holdings, making the stock its 6th biggest holding. Polar Asset Management Partners Inc.’s holdings in Bio-Rad Laboratories were worth $54,391,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Motco purchased a new position in shares of Bio-Rad Laboratories in the 2nd quarter valued at $25,000. Berman Capital Advisors LLC purchased a new stake in Bio-Rad Laboratories during the 2nd quarter worth $26,000. Capital Investment Advisory Services LLC purchased a new stake in Bio-Rad Laboratories during the 2nd quarter worth $48,000. Advisory Services Network LLC increased its stake in Bio-Rad Laboratories by 64.9% during the 2nd quarter. Advisory Services Network LLC now owns 160 shares of the medical research company’s stock worth $50,000 after buying an additional 63 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth about $203,000. Institutional investors own 62.13% of the company’s stock.
Shares of BIO traded up $4.39 during midday trading on Friday, hitting $344.12. The company had a trading volume of 5,088 shares, compared to its average volume of 189,460. The company’s 50 day moving average price is $331.77 and its 200 day moving average price is $311.26. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 59.04, a PEG ratio of 3.15 and a beta of 1.18. Bio-Rad Laboratories, Inc. has a 52 week low of $220.05 and a 52 week high of $345.50. The company has a quick ratio of 3.36, a current ratio of 4.68 and a debt-to-equity ratio of 0.11.
BIO has been the subject of several research analyst reports. Barclays boosted their target price on shares of Bio-Rad Laboratories from $350.00 to $380.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. They noted that the move was a valuation call. Goldman Sachs Group raised shares of Bio-Rad Laboratories from a “buy” rating to a “conviction-buy” rating and set a $400.00 target price for the company in a research report on Tuesday, August 20th. Finally, ValuEngine downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $378.33.
In other Bio-Rad Laboratories news, EVP Timothy S. Ernst sold 310 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $320.00, for a total transaction of $99,200.00. Following the completion of the transaction, the executive vice president now directly owns 3,100 shares of the company’s stock, valued at approximately $992,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Hertia sold 838 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $328.29, for a total transaction of $275,107.02. Following the transaction, the executive vice president now directly owns 18,966 shares of the company’s stock, valued at $6,226,348.14. The disclosure for this sale can be found here. Insiders sold a total of 7,876 shares of company stock valued at $2,634,905 in the last three months. Insiders own 27.84% of the company’s stock.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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