Park Avenue Securities LLC sells 56 shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Park Avenue Securities LLC reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 2.5% during the second quarter, according to the company’s most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,164 shares of the medical research company after selling 56 shares during the quarter. Park Avenue Securities LLC’s holdings in Bio-Rad Laboratories were worth $591,000, according to the company’s most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Bio-Rad Laboratories by 48.7% in the fourth quarter. Victory Capital Management Inc. now owns 17,671 shares of the medical research company’s stock worth $5,706,000 after acquiring an additional 5,790 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Bio-Rad Laboratories by 38.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 151,691 shares of the medical research company’s stock worth $48,980,000 after acquiring an additional 41,937 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at $1,590,000. Swedbank AB acquired a new stake in Bio-Rad Laboratories in the first quarter valued at $1,824,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Bio-Rad Laboratories in the fourth quarter valued at approximately $2,609,000. Institutional investors own 65.24% of the company’s stock.

Insiders place their bets

In other news, EVP Michael Crowley sold 369 shares of the company’s stock in a transaction that took place on Thursday, June 13. The shares were sold at an average price of $281.91, for a total transaction of $104,024.79. Following the transaction, the executive vice president now owns 6,573 shares of the company’s stock, valued at approximately $1,852,994.43. The transaction was disclosed in a filing with the SEC, which is accessible from the SEC website. Company insiders own 17.06% of the company’s shares.

Bio-Rad Laboratories down 0.9%

BIO stock opened at $325.29 on Friday. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13. The stock has a market cap of $9.28 billion, a price-to-earnings ratio of -31.40 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 12-month low of $261.59 and a 12-month high of $406.44. The stock’s 50-day average price is $297.22 and its 200-day average price is $308.26.

Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last released its quarterly earnings results on Thursday, August 1. The medical research company reported earnings per share (EPS) of $3.11 for the quarter, beating analysts’ consensus estimates of $2.12 by $0.99. Bio-Rad Laboratories had a positive return on equity of 3.56% and a negative net margin of 51.73%. The company posted revenue of $638.50 million during the quarter, compared to the consensus estimate of $645.79 million. In the same quarter last year, the company reported earnings per share of $3.00. The company’s revenue declined 6.3% compared to the same quarter last year. Equities analysts forecast that Bio-Rad Laboratories, Inc. will report earnings per share of $10.8 for the current fiscal year.

Upgrades and downgrades by analysts

Several analysts have recently commented on BIO shares. UBS Group decreased their price target on Bio-Rad Laboratories from $420.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup raised their price target on shares of Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Jefferies Financial Group reiterated a “hold” rating and set a $315.00 price target (previously $440.00) on shares of Bio-Rad Laboratories in a research note on Monday, June 3rd. Finally, Royal Bank of Canada reduced their price target on Bio-Rad Laboratories from $402.00 to $401.00 and gave the company an “outperform” rating in a research note on Friday, August 2. Three research analysts have rated the stock with a “hold” rating and two have given a “buy” rating. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has an average rating of “Hold” and a consensus price target of $362.75.

Get our latest BIO stock report

About Bio-Rad Laboratories

(Free report)

Bio-Rad Laboratories, Inc. manufactures and distributes products for life science research and clinical diagnostics in the United States, Europe, Asia, Canada and Latin America. The company operates in two business segments: Life Science and Clinical Diagnostics. The company develops, manufactures and markets instruments, systems, reagents and consumables for the separation, purification, characterization and quantification of biological materials such as cells, proteins and nucleic acids for the proteomics, genomics, biopharmaceutical production, cell biology and food safety markets.