Bio-Rad Laboratories, Inc. (NYSE:BIO) Short Interest Update

Bio-Rad Laboratories, Inc. (NYSE:BIO) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 752,900 shares, a decline of 14.4% from the May 15th total of 879,400 shares. Currently, 3.6% of the company’s stock are short sold. Based on an average daily volume of 193,800 shares, the short-interest ratio is presently 3.9 days.

Shares of NYSE:BIO opened at $309.23 on Friday. The business’s 50 day moving average is $300.60. The company has a quick ratio of 3.24, a current ratio of 4.57 and a debt-to-equity ratio of 0.13. Bio-Rad Laboratories has a 1 year low of $220.05 and a 1 year high of $345.15. The firm has a market capitalization of $9.21 billion, a P/E ratio of 52.95, a P/E/G ratio of 2.88 and a beta of 1.22.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Wednesday, May 8th. The medical research company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.53. Bio-Rad Laboratories had a return on equity of 4.15% and a net margin of 24.84%. The firm had revenue of $553.98 million during the quarter, compared to analysts’ expectations of $548.82 million. Sell-side analysts predict that Bio-Rad Laboratories will post 7.15 EPS for the current fiscal year.

A number of brokerages have weighed in on BIO. Deutsche Bank downgraded Mitsubishi Motors from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. ValuEngine raised XCel Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Barclays reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Thursday, May 9th. Finally, Zacks Investment Research downgraded W. R. Grace & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $365.00.

In related news, EVP Timothy S. Ernst sold 345 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $290.00, for a total transaction of $100,050.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 27.84% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY increased its holdings in Bio-Rad Laboratories by 0.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,791 shares of the medical research company’s stock valued at $1,345,000 after purchasing an additional 45 shares during the period. Quadrant Capital Group LLC grew its holdings in Bio-Rad Laboratories by 205.9% during the 1st quarter. Quadrant Capital Group LLC now owns 104 shares of the medical research company’s stock worth $29,000 after acquiring an additional 70 shares during the period. Virginia Retirement Systems ET AL grew its holdings in Bio-Rad Laboratories by 7.1% during the 4th quarter. Virginia Retirement Systems ET AL now owns 1,500 shares of the medical research company’s stock worth $348,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System grew its holdings in Bio-Rad Laboratories by 1.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the medical research company’s stock worth $1,651,000 after acquiring an additional 100 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Bio-Rad Laboratories by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 26,213 shares of the medical research company’s stock worth $8,013,000 after acquiring an additional 105 shares during the period. Institutional investors own 64.34% of the company’s stock.

Bio-Rad Laboratories Company Profile

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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