NWQ Investment Management Company LLC cut its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 8.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 287,576 shares of the medical research company’s stock after selling 25,539 shares during the quarter. NWQ Investment Management Company LLC owned about 0.97% of Bio-Rad Laboratories worth $63,905,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in BIO. American Century Companies Inc. acquired a new stake in Bio-Rad Laboratories during the 3rd quarter worth about $125,820,000. FMR LLC lifted its position in Bio-Rad Laboratories by 237.4% during the 2nd quarter. FMR LLC now owns 711,313 shares of the medical research company’s stock worth $160,978,000 after acquiring an additional 500,513 shares during the period. Royal Bank of Canada lifted its position in Bio-Rad Laboratories by 101.2% during the 2nd quarter. Royal Bank of Canada now owns 3,324 shares of the medical research company’s stock worth $752,000 after acquiring an additional 281,264 shares during the period. Wells Fargo & Company MN lifted its position in Bio-Rad Laboratories by 93.1% during the 2nd quarter. Wells Fargo & Company MN now owns 523,876 shares of the medical research company’s stock worth $118,557,000 after acquiring an additional 252,643 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC lifted its position in Bio-Rad Laboratories by 217.6% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 318,942 shares of the medical research company’s stock worth $72,180,000 after acquiring an additional 218,512 shares during the period. Institutional investors and hedge funds own 63.87% of the company’s stock.
Bio-Rad Laboratories, Inc. (BIO) opened at $253.80 on Wednesday. The firm has a market capitalization of $7,663.67, a PE ratio of 81.74, a price-to-earnings-growth ratio of 3.84 and a beta of 0.97. Bio-Rad Laboratories, Inc. has a 52 week low of $175.55 and a 52 week high of $273.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.77 and a current ratio of 4.06.
Bio-Rad Laboratories declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 28th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, VP James R. Stark sold 746 shares of Bio-Rad Laboratories stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $270.51, for a total value of $201,800.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Giovanni Magni sold 2,400 shares of Bio-Rad Laboratories stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $253.01, for a total value of $607,224.00. Following the completion of the transaction, the executive vice president now owns 9,251 shares of the company’s stock, valued at approximately $2,340,595.51. The disclosure for this sale can be found here. Insiders have sold a total of 4,146 shares of company stock valued at $1,067,414 in the last quarter. Company insiders own 28.29% of the company’s stock.
A number of equities analysts have weighed in on the company. TheStreet upgraded Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research note on Monday, November 13th. Deutsche Bank reiterated a “buy” rating and set a $255.00 price objective on shares of Bio-Rad Laboratories in a research note on Monday, September 18th. Zacks Investment Research upgraded Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $290.00 price objective (up previously from $250.00) on shares of Bio-Rad Laboratories in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Bio-Rad Laboratories currently has a consensus rating of “Buy” and a consensus target price of $273.33.
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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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