Metis Global Partners LLC Sells 346 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Metis Global Partners LLC trimmed its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 33.7% in the third quarter, HoldingsChannel reports. The firm owned 682 shares of the medical research company’s stock after selling 346 shares during the period. Metis Global Partners LLC’s holdings in Bio-Rad Laboratories were worth $228,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. grew its holdings in shares of Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after purchasing an additional 45 shares during the last quarter. Wahed Invest LLC grew its holdings in Bio-Rad Laboratories by 14.0% during the 1st quarter. Wahed Invest LLC now owns 399 shares of the medical research company’s stock worth $138,000 after acquiring an additional 49 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in Bio-Rad Laboratories by 193.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after acquiring an additional 62 shares during the last quarter. Natixis increased its position in Bio-Rad Laboratories by 3.4% in the 1st quarter. Natixis now owns 1,986 shares of the medical research company’s stock valued at $687,000 after acquiring an additional 65 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Bio-Rad Laboratories by 9.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 947 shares of the medical research company’s stock worth $259,000 after acquiring an additional 82 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Insider Transactions at Bio-Rad Laboratories

In other news, COO Andrew J. Last sold 3,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. The trade was a 28.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Barry sold 623 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the sale, the executive vice president now owns 147 shares of the company’s stock, valued at $48,582.03. This trade represents a 80.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BIO. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price target for the company. Citigroup lifted their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada lifted their price objective on Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Bio-Rad Laboratories currently has an average rating of “Moderate Buy” and an average target price of $391.80.

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock opened at $320.60 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of -11.73 and a beta of 0.93. The stock’s 50-day moving average is $340.21 and its 200-day moving average is $315.19. Bio-Rad Laboratories, Inc. has a one year low of $262.12 and a one year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. During the same period last year, the company earned $2.33 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. Equities analysts predict that Bio-Rad Laboratories, Inc. will post 9.93 earnings per share for the current fiscal year.

Bio-Rad Laboratories Company Profile

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.