Innealta Capital LLC Makes New $102,000 Investment in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Innealta Capital LLC acquired a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 373 shares of the medical research company’s stock, valued at approximately $102,000.

Several other institutional investors and hedge funds have also bought and sold shares of BIO. Capital Advisors Ltd. LLC lifted its holdings in Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after buying an additional 62 shares during the period. Sound Income Strategies LLC purchased a new stake in Bio-Rad Laboratories in the first quarter worth about $38,000. Gladius Capital Management LP lifted its holdings in Bio-Rad Laboratories by 65.8% in the fourth quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock worth $39,000 after buying an additional 48 shares during the period. Principal Securities Inc. purchased a new stake in Bio-Rad Laboratories in the fourth quarter worth about $41,000. Finally, GAMMA Investing LLC purchased a new stake in Bio-Rad Laboratories in the fourth quarter worth about $42,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BIO. UBS Group lowered their target price on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Citigroup lifted their target price on shares of Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $401.00 target price on shares of Bio-Rad Laboratories in a report on Friday, August 16th. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a report on Tuesday. They set an “equal weight” rating and a $340.00 target price for the company. Finally, StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $358.20.

Insider Buying and Selling at Bio-Rad Laboratories

In other news, EVP Michael Crowley sold 369 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total value of $104,024.79. Following the transaction, the executive vice president now directly owns 6,573 shares in the company, valued at approximately $1,852,994.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Stock Up 1.1 %

BIO traded up $3.61 during trading on Friday, hitting $337.32. 199,082 shares of the company’s stock traded hands, compared to its average volume of 225,486. The company’s 50 day simple moving average is $306.90 and its two-hundred day simple moving average is $308.08. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13. Bio-Rad Laboratories, Inc. has a 12-month low of $261.59 and a 12-month high of $406.44. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of -32.21 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.12 by $0.99. Bio-Rad Laboratories had a positive return on equity of 3.56% and a negative net margin of 51.73%. The business had revenue of $638.50 million for the quarter, compared to the consensus estimate of $645.79 million. During the same period last year, the business posted $3.00 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. Analysts predict that Bio-Rad Laboratories, Inc. will post 10.8 earnings per share for the current fiscal year.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.