Candriam Luxembourg S.C.A. bought a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 8,500 shares of the medical research company’s stock, valued at approximately $2,029,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new stake in Bio-Rad Laboratories during the second quarter worth $7,584,000. Magnetar Financial LLC lifted its stake in Bio-Rad Laboratories by 40.7% during the third quarter. Magnetar Financial LLC now owns 5,799 shares of the medical research company’s stock worth $1,289,000 after purchasing an additional 1,676 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Bio-Rad Laboratories by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 30,855 shares of the medical research company’s stock worth $6,861,000 after purchasing an additional 5,823 shares during the last quarter. Claar Advisors LLC bought a new stake in Bio-Rad Laboratories during the third quarter worth $13,333,000. Finally, Canada Pension Plan Investment Board lifted its stake in Bio-Rad Laboratories by 920.0% during the third quarter. Canada Pension Plan Investment Board now owns 5,100 shares of the medical research company’s stock worth $1,133,000 after purchasing an additional 4,600 shares during the last quarter. Hedge funds and other institutional investors own 64.05% of the company’s stock.
Several research firms have weighed in on BIO. CL King cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a research note on Friday. Wells Fargo & Co restated an “outperform” rating and set a $290.00 target price (up from $250.00) on shares of Bio-Rad Laboratories in a research note on Wednesday, November 29th. TheStreet upgraded Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research note on Monday, November 13th. Finally, Zacks Investment Research upgraded Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 target price for the company in a research note on Wednesday, December 13th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $277.75.
Bio-Rad Laboratories declared that its Board of Directors has initiated a stock repurchase program on Tuesday, November 28th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other news, CFO Christine A. Tsingos sold 4,980 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $249.40, for a total transaction of $1,242,012.00. Following the completion of the transaction, the chief financial officer now directly owns 7,283 shares in the company, valued at $1,816,380.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James R. Stark sold 746 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $270.51, for a total transaction of $201,800.46. The disclosure for this sale can be found here. Insiders have sold 6,726 shares of company stock valued at $1,702,202 over the last quarter. Company insiders own 28.29% of the company’s stock.
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Bio-Rad Laboratories 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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