Hermes Investment Management Ltd. lowered its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 32.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,840 shares of the medical research company’s stock after selling 97,533 shares during the period. Hermes Investment Management Ltd. owned approximately 0.68% of Bio-Rad Laboratories worth $45,452,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in BIO. Oakbrook Investments LLC purchased a new stake in Bio-Rad Laboratories during the second quarter worth approximately $379,000. US Bancorp DE increased its stake in Bio-Rad Laboratories by 0.8% in the second quarter. US Bancorp DE now owns 4,224 shares of the medical research company’s stock worth $956,000 after buying an additional 34 shares during the last quarter. State Treasurer State of Michigan increased its stake in Bio-Rad Laboratories by 2.4% in the second quarter. State Treasurer State of Michigan now owns 8,600 shares of the medical research company’s stock worth $1,946,000 after buying an additional 200 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Bio-Rad Laboratories during the second quarter worth approximately $14,956,000. Finally, Aperio Group LLC increased its stake in Bio-Rad Laboratories by 11.5% in the second quarter. Aperio Group LLC now owns 19,189 shares of the medical research company’s stock worth $4,343,000 after buying an additional 1,976 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.
Shares of Bio-Rad Laboratories, Inc. (NYSE BIO) traded up 0.01% during mid-day trading on Friday, reaching $212.43. The company had a trading volume of 210,765 shares. Bio-Rad Laboratories, Inc. has a 52-week low of $147.68 and a 52-week high of $242.79. The stock has a market capitalization of $6.30 billion, a P/E ratio of 419.82 and a beta of 0.91. The company’s 50-day moving average is $228.17 and its 200 day moving average is $213.43.
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A number of research firms have recently commented on BIO. Zacks Investment Research downgraded Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. TheStreet downgraded Bio-Rad Laboratories from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $275.00 price target on shares of Bio-Rad Laboratories in a report on Friday, July 14th. Wells Fargo & Company initiated coverage on Bio-Rad Laboratories in a report on Thursday, July 13th. They issued an “outperform” rating and a $250.00 price target for the company. Finally, Deutsche Bank AG upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating and lowered their price target for the company from $220.00 to $195.00 in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Bio-Rad Laboratories currently has a consensus rating of “Buy” and a consensus price target of $228.80.
In other news, EVP Michael Crowley sold 700 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $215.91, for a total transaction of $151,137.00. Following the transaction, the executive vice president now owns 2,060 shares in the company, valued at approximately $444,774.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.29% of the stock is currently owned by company insiders.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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