Frank Rimerman Advisors LLC Reduces Stock Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Frank Rimerman Advisors LLC trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,771 shares of the medical research company’s stock after selling 277 shares during the period. Frank Rimerman Advisors LLC’s holdings in Bio-Rad Laboratories were worth $593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC raised its stake in shares of Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after buying an additional 62 shares during the period. UMB Bank n.a. raised its stake in Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 45 shares during the period. EntryPoint Capital LLC bought a new stake in Bio-Rad Laboratories during the 1st quarter valued at approximately $51,000. Headlands Technologies LLC bought a new stake in Bio-Rad Laboratories during the 2nd quarter valued at approximately $51,000. Finally, Quarry LP bought a new stake in Bio-Rad Laboratories during the 2nd quarter valued at approximately $59,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $401.00 target price on shares of Bio-Rad Laboratories in a research note on Friday, August 16th. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup raised Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $350.00 to $400.00 in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $368.20.

Bio-Rad Laboratories Price Performance

Shares of BIO stock opened at $320.23 on Monday. Bio-Rad Laboratories, Inc. has a 1-year low of $261.59 and a 1-year high of $364.24. The stock’s 50-day moving average is $331.37 and its 200 day moving average is $307.15. The company has a market cap of $9.13 billion, a P/E ratio of -30.91 and a beta of 0.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.28 and a quick ratio of 4.63.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.99. The business had revenue of $638.50 million during the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a positive return on equity of 3.77% and a negative net margin of 51.73%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $3.00 earnings per share. Research analysts predict that Bio-Rad Laboratories, Inc. will post 9.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Andrew J. Last sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories 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 transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at approximately $2,494,016.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Barry sold 623 shares of Bio-Rad Laboratories stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the transaction, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.06% of the company’s stock.

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.