Bio-Rad Laboratories (NYSE:BIO) Stock Price Down 4.9%

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) were down 4.9% on Monday . The company traded as low as $762.83 and last traded at $763.93. Approximately 666 shares changed hands during trading, a decline of 100% from the average daily volume of 160,282 shares. The stock had previously closed at $802.96.

A number of equities research analysts have recently weighed in on BIO shares. Zacks Investment Research upgraded Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $806.00 price target on the stock in a research note on Wednesday, August 4th. Wells Fargo & Company boosted their price target on Bio-Rad Laboratories from $735.00 to $930.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th.

The stock has a 50-day moving average of $767.91 and a 200 day moving average of $665.34. The stock has a market cap of $22.59 billion, a PE ratio of 5.99 and a beta of 0.85.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Wednesday, July 28th. The medical research company reported $3.54 EPS for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.88. The firm had revenue of $715.93 million for the quarter, compared to analyst estimates of $610.40 million. Bio-Rad Laboratories had a return on equity of 4.65% and a net margin of 140.48%. On average, equities analysts predict that Bio-Rad Laboratories, Inc. will post 14.2 EPS for the current fiscal year.

In other news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 9th. The stock was sold at an average price of $754.93, for a total transaction of $2,264,790.00. Following the completion of the transaction, the executive vice president now directly owns 6,669 shares of the company’s stock, valued at approximately $5,034,628.17. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ilan Daskal sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $751.84, for a total value of $1,729,232.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,497 shares of company stock worth $4,939,591. Insiders own 27.67% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in Bio-Rad Laboratories in the 2nd quarter valued at $58,000. First Mercantile Trust Co. purchased a new stake in Bio-Rad Laboratories in the 1st quarter valued at $57,000. CSat Investment Advisory L.P. grew its holdings in Bio-Rad Laboratories by 45.2% in the 1st quarter. CSat Investment Advisory L.P. now owns 122 shares of the medical research company’s stock valued at $70,000 after buying an additional 38 shares in the last quarter. Sandy Spring Bank purchased a new stake in Bio-Rad Laboratories in the 2nd quarter valued at $97,000. Finally, Eaton Vance Management purchased a new stake in Bio-Rad Laboratories in the 1st quarter valued at $109,000. 63.14% of the stock is owned by hedge funds and other institutional investors.

About Bio-Rad Laboratories (NYSE:BIO)

Bio-Rad Laboratories, Inc engages in the development and production of specialty chemicals used in biochemical, pharmaceutical, and other life science research applications. It operates through the Life Sciences and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments.

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