Bio-Rad Laboratories, Inc. (NYSE:BIO) Short Interest Update

Bio-Rad Laboratories, Inc. (NYSE:BIO) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 360,000 shares, a drop of 31.1% from the September 15th total of 522,600 shares. Based on an average daily volume of 171,900 shares, the short-interest ratio is presently 2.1 days. Currently, 1.7% of the company’s stock are sold short.

In related news, EVP Giovanni Magni sold 2,382 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $518.81, for a total value of $1,235,805.42. Following the transaction, the executive vice president now directly owns 12,435 shares in the company, valued at approximately $6,451,402.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 27.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC lifted its position in Bio-Rad Laboratories by 12.7% in the 1st quarter. FMR LLC now owns 182,762 shares of the medical research company’s stock worth $55,867,000 after buying an additional 20,560 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in Bio-Rad Laboratories by 9.3% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 3,255 shares of the medical research company’s stock worth $1,141,000 after buying an additional 277 shares during the last quarter. Victory Capital Management Inc. lifted its position in Bio-Rad Laboratories by 13.3% in the 1st quarter. Victory Capital Management Inc. now owns 20,817 shares of the medical research company’s stock worth $7,298,000 after buying an additional 2,438 shares during the last quarter. M&T Bank Corp lifted its position in Bio-Rad Laboratories by 2.1% in the 1st quarter. M&T Bank Corp now owns 1,257 shares of the medical research company’s stock worth $441,000 after buying an additional 26 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Bio-Rad Laboratories by 42.7% in the 1st quarter. Wellington Management Group LLP now owns 2,248 shares of the medical research company’s stock worth $788,000 after buying an additional 673 shares during the last quarter. Hedge funds and other institutional investors own 65.23% of the company’s stock.

Several equities analysts have weighed in on the company. Wells Fargo & Company restated a “buy” rating and set a $590.00 price objective on shares of Bio-Rad Laboratories in a research note on Thursday, September 3rd. Citigroup lifted their price objective on Bio-Rad Laboratories from $525.00 to $625.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Jefferies Financial Group reissued a “market perform” rating and issued a $666.00 price objective on shares of Bio-Rad Laboratories in a report on Thursday, September 3rd.

Shares of BIO traded up $3.96 during trading hours on Friday, reaching $556.57. 165,666 shares of the company’s stock traded hands, compared to its average volume of 227,261. The stock has a market cap of $16.52 billion, a PE ratio of 8.63 and a beta of 1.01. The firm’s 50 day simple moving average is $516.11 and its 200-day simple moving average is $476.10. Bio-Rad Laboratories has a 12 month low of $309.38 and a 12 month high of $573.79.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, July 30th. The medical research company reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.39. The firm had revenue of $536.88 million during the quarter, compared to the consensus estimate of $526.80 million. Bio-Rad Laboratories had a return on equity of 3.66% and a net margin of 84.89%. Analysts expect that Bio-Rad Laboratories will post 7.9 earnings per share for the current year.

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 United States, Canada, and Latin America. 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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