Bio-Rad Laboratories (BIO) PT Raised to $340.00

Bio-Rad Laboratories (NYSE:BIO) had its price objective raised by stock analysts at Barclays from $315.00 to $340.00 in a research note issued to investors on Friday. The firm currently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective suggests a potential upside of 6.56% from the company’s current price.

Separately, Zacks Investment Research lowered shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a report on Monday, November 12th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $345.57.

BIO stock traded up $48.18 during trading on Friday, reaching $319.08. The stock had a trading volume of 631,465 shares, compared to its average volume of 243,938. Bio-Rad Laboratories has a 1-year low of $220.05 and a 1-year high of $345.15. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.49 and a quick ratio of 3.16. The firm has a market capitalization of $8.12 billion, a P/E ratio of 77.82, a P/E/G ratio of 2.74 and a beta of 1.21.

In other news, CFO Christine A. Tsingos sold 1,411 shares of the business’s stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $248.00, for a total value of $349,928.00. Following the completion of the sale, the chief financial officer now owns 6,683 shares of the company’s stock, valued at approximately $1,657,384. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Crowley sold 392 shares of the business’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $248.03, for a total transaction of $97,227.76. Following the completion of the sale, the executive vice president now directly owns 3,425 shares of the company’s stock, valued at approximately $849,502.75. The disclosure for this sale can be found here. Insiders sold a total of 5,027 shares of company stock valued at $1,267,916 in the last three months. Insiders own 27.99% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Bio-Rad Laboratories by 18.1% in the 4th quarter. FMR LLC now owns 162,202 shares of the medical research company’s stock worth $37,666,000 after purchasing an additional 24,880 shares during the last quarter. Millennium Management LLC increased its position in shares of Bio-Rad Laboratories by 5.4% in the 4th quarter. Millennium Management LLC now owns 398,328 shares of the medical research company’s stock worth $92,500,000 after purchasing an additional 20,503 shares during the last quarter. Legal & General Group Plc increased its position in shares of Bio-Rad Laboratories by 5.8% in the 4th quarter. Legal & General Group Plc now owns 29,252 shares of the medical research company’s stock worth $6,793,000 after purchasing an additional 1,595 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Bio-Rad Laboratories by 4.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 5,089 shares of the medical research company’s stock valued at $1,182,000 after buying an additional 221 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in shares of Bio-Rad Laboratories by 2.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 25,212 shares of the medical research company’s stock valued at $5,855,000 after buying an additional 573 shares during the last quarter. 61.70% of the stock is owned by institutional investors.

About Bio-Rad Laboratories

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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