Northwestern Mutual Investment Management Company LLC trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) by 11.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 859 shares of the medical research company’s stock after selling 113 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Bio-Rad Laboratories were worth $484,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIO. Sageworth Trust Co of South Dakota purchased a new stake in Bio-Rad Laboratories in the 4th quarter worth approximately $43,000. Tobam grew its holdings in Bio-Rad Laboratories by 36.1% during the 1st quarter. Tobam now owns 98 shares of the medical research company’s stock valued at $55,000 after buying an additional 26 shares in the last quarter. Covestor Ltd purchased a new stake in Bio-Rad Laboratories during the 4th quarter valued at approximately $59,000. Gladius Capital Management LP purchased a new stake in Bio-Rad Laboratories during the 1st quarter valued at approximately $108,000. Finally, UMB Bank N A MO purchased a new stake in Bio-Rad Laboratories during the 4th quarter valued at approximately $113,000. 63.66% of the stock is owned by hedge funds and other institutional investors.
Bio-Rad Laboratories Stock Down 0.1 %
BIO stock opened at $548.74 on Monday. The firm has a fifty day moving average price of $513.30 and a 200 day moving average price of $543.73. Bio-Rad Laboratories, Inc. has a fifty-two week low of $462.61 and a fifty-two week high of $832.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 5.30 and a quick ratio of 4.22.
Bio-Rad Laboratories (NYSE:BIO – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The medical research company reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.92. The company had revenue of $691.10 million during the quarter, compared to the consensus estimate of $664.60 million. Bio-Rad Laboratories had a positive return on equity of 3.82% and a negative net margin of 67.66%. Bio-Rad Laboratories’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the company earned $3.54 earnings per share. Sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 14.28 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have issued reports on BIO shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $700.00 price objective on shares of Bio-Rad Laboratories in a report on Friday, April 29th. Citigroup cut their price objective on shares of Bio-Rad Laboratories from $750.00 to $700.00 and set a “buy” rating for the company in a report on Friday, July 8th. Finally, TheStreet lowered shares of Bio-Rad Laboratories from a “b-” rating to a “c+” rating in a report on Thursday, April 28th.
Insider Transactions at Bio-Rad Laboratories
In other news, CAO Ajit Ramalingam sold 518 shares of Bio-Rad Laboratories stock in a transaction on Friday, August 5th. The stock was sold at an average price of $537.00, for a total transaction of $278,166.00. Following the completion of the sale, the chief accounting officer now directly owns 98 shares in the company, valued at $52,626. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 27.40% of the company’s stock.
Bio-Rad Laboratories 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. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.
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