Bio-Rad Laboratories (NYSE:BIO) Reaches New 52-Week High at $374.93

Bio-Rad Laboratories, Inc. (NYSE:BIO) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $374.93 and last traded at $371.36, with a volume of 162048 shares. The stock had previously closed at $371.58.

BIO has been the subject of a number of analyst reports. 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 research report on Tuesday, August 20th. ValuEngine downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $378.75.

The company has a debt-to-equity ratio of 0.12, a current ratio of 4.72 and a quick ratio of 3.36. The company has a market capitalization of $11.06 billion, a P/E ratio of 63.59, a P/E/G ratio of 3.42 and a beta of 1.18. The stock has a 50-day moving average price of $353.30 and a 200-day moving average price of $326.97.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, October 31st. The medical research company reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company 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 firm’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 7.2 EPS for the current fiscal year.

In other news, EVP John Hertia sold 444 shares of the firm’s stock in a transaction dated 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, VP James R. Stark sold 848 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $351.45, for a total value of $298,029.60. The disclosure for this sale can be found here. Insiders have sold 7,325 shares of company stock valued at $2,471,010 over the last 90 days. 27.84% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of BIO. FMR LLC increased its holdings in Bio-Rad Laboratories by 12.7% in the first quarter. FMR LLC now owns 182,762 shares of the medical research company’s stock worth $55,867,000 after purchasing an additional 20,560 shares in the last quarter. BB&T Corp increased its holdings in Bio-Rad Laboratories by 3.2% in the second quarter. BB&T Corp now owns 1,503 shares of the medical research company’s stock worth $469,000 after purchasing an additional 47 shares in the last quarter. Arizona State Retirement System increased its holdings in Bio-Rad Laboratories by 0.6% in the second quarter. Arizona State Retirement System now owns 14,539 shares of the medical research company’s stock worth $4,545,000 after purchasing an additional 80 shares in the last quarter. Quantitative Systematic Strategies LLC increased its holdings in Bio-Rad Laboratories by 227.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 3,093 shares of the medical research company’s stock worth $967,000 after purchasing an additional 2,149 shares in the last quarter. Finally, ARP Americas LP bought a new stake in Bio-Rad Laboratories in the second quarter worth approximately $594,000. Institutional investors and hedge funds own 63.79% of the company’s stock.

About Bio-Rad Laboratories (NYSE:BIO)

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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