Kornitzer Capital Management Inc. KS Acquires 750 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Kornitzer Capital Management Inc. KS lifted its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,726 shares of the medical research company’s stock after acquiring an additional 750 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Bio-Rad Laboratories were worth $2,903,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Motco bought a new position in Bio-Rad Laboratories in the second quarter worth $25,000. Berman Capital Advisors LLC bought a new position in Bio-Rad Laboratories in the second quarter worth $26,000. Valeo Financial Advisors LLC bought a new position in Bio-Rad Laboratories in the third quarter worth $40,000. Capital Investment Advisory Services LLC bought a new position in Bio-Rad Laboratories in the second quarter worth $48,000. Finally, Advisory Services Network LLC raised its holdings in Bio-Rad Laboratories by 64.9% in the second quarter. Advisory Services Network LLC now owns 160 shares of the medical research company’s stock worth $50,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 62.30% of the company’s stock.

In other news, EVP John Hertia sold 444 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $336.47, for a total transaction of $149,392.68. Following the completion of the transaction, the executive vice president now directly owns 18,206 shares in the company, valued at $6,125,772.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy S. Ernst sold 310 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $320.00, for a total value of $99,200.00. Following the transaction, the executive vice president now owns 3,100 shares of the company’s stock, valued at $992,000. The disclosure for this sale can be found here. Insiders have sold 7,876 shares of company stock valued at $2,634,905 over the last 90 days. Corporate insiders own 27.84% of the company’s stock.

Shares of NYSE:BIO traded up $6.97 on Friday, hitting $352.45. 188,149 shares of the company traded hands, compared to its average volume of 218,130. Bio-Rad Laboratories, Inc. has a 52 week low of $220.05 and a 52 week high of $358.89. The company has a quick ratio of 3.36, a current ratio of 4.72 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $340.30 and a 200-day simple moving average of $319.57. The company has a market cap of $10.28 billion, a PE ratio of 60.35, a PEG ratio of 3.23 and a beta of 1.16.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, October 31st. The medical research company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.25. Bio-Rad Laboratories had a return on equity of 4.30% and a net margin of 16.14%. The firm had revenue of $560.60 million during the quarter, compared to the consensus estimate of $561.40 million. During the same period last year, the company earned $0.91 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 7.2 earnings per share for the current year.

A number of equities analysts have issued reports on BIO shares. Goldman Sachs Group upgraded Bio-Rad Laboratories from a “buy” rating to a “conviction-buy” rating and set a $400.00 price objective for the company in a report on Tuesday, August 20th. ValuEngine downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, Barclays increased their price objective on Bio-Rad Laboratories from $350.00 to $380.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $378.75.

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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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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