Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 10.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,755 shares of the medical research company’s stock after buying an additional 795 shares during the period. PNC Financial Services Group Inc.’s holdings in Bio-Rad Laboratories were worth $2,929,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC grew its holdings in Bio-Rad Laboratories by 32,296.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after acquiring an additional 634,311 shares in the last quarter. Swedbank AB purchased a new position in Bio-Rad Laboratories in the first quarter valued at $1,824,000. Principal Financial Group Inc. raised its stake in Bio-Rad Laboratories by 95.6% in the third quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock valued at $14,836,000 after buying an additional 21,669 shares in the last quarter. Mawer Investment Management Ltd. lifted its holdings in Bio-Rad Laboratories by 63.0% during the 3rd quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock worth $72,900,000 after buying an additional 84,237 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Bio-Rad Laboratories by 320.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,663 shares of the medical research company’s stock worth $1,000,000 after acquiring an additional 2,792 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock opened at $336.09 on Tuesday. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of -12.30 and a beta of 0.93. The firm’s fifty day simple moving average is $340.63 and its 200-day simple moving average is $316.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. Bio-Rad Laboratories, Inc. has a 12 month low of $262.12 and a 12 month 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 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 analyst estimates of $628.18 million. During the same period in the previous year, the business posted $2.33 earnings per share. Bio-Rad Laboratories’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $329.94, for a total transaction of $989,820.00. Following the completion of the sale, the chief operating officer now owns 7,559 shares in the company, valued at $2,494,016.46. This represents a 28.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Barry sold 623 shares of Bio-Rad Laboratories stock in a transaction on 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 transaction, the executive vice president now owns 147 shares in the company, valued at approximately $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. 17.50% of the stock is owned by insiders.

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. 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.