Bio-Rad Laboratories, Inc. (NYSE:BIO) Sees Significant Increase in Short Interest

Bio-Rad Laboratories, Inc. (NYSE:BIO) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 408,100 shares, an increase of 12.8% from the September 30th total of 361,800 shares. Based on an average trading volume of 220,700 shares, the short-interest ratio is currently 1.8 days. Currently, 1.9% of the shares of the company are sold short.

BIO traded up $1.76 during midday trading on Friday, hitting $355.89. 122,924 shares of the company were exchanged, compared to its average volume of 210,892. The company’s 50 day simple moving average is $341.47 and its 200 day simple moving average is $321.29. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of 50.88, a price-to-earnings-growth ratio of 3.28 and a beta of 1.16. The company has a current ratio of 4.72, a quick ratio of 3.36 and a debt-to-equity ratio of 0.12. Bio-Rad Laboratories has a 1-year low of $220.05 and a 1-year high of $358.89.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, October 31st. The medical research company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.25. Bio-Rad Laboratories had a net margin of 16.14% and a return on equity of 4.30%. The business had revenue of $560.60 million for the quarter, compared to analyst estimates of $561.40 million. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities analysts anticipate that Bio-Rad Laboratories will post 7.2 EPS for the current year.

Several equities research analysts have weighed in on the company. Barclays increased their price target on Bio-Rad Laboratories from $350.00 to $380.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. They noted that the move was a valuation call. ValuEngine downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Goldman Sachs Group raised Bio-Rad Laboratories from a “buy” rating to a “conviction-buy” rating and set a $400.00 price target on the stock in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Bio-Rad Laboratories currently has a consensus rating of “Buy” and an average target price of $378.75.

In other Bio-Rad Laboratories news, EVP John Hertia sold 5,195 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $336.57, for a total transaction of $1,748,481.15. Following the sale, the executive vice president now directly owns 15,507 shares of the company’s stock, valued at approximately $5,219,190.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James R. Stark sold 848 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $351.45, for a total value of $298,029.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,414 shares of company stock worth $2,833,735. 27.84% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Rational Advisors LLC purchased a new stake in shares of Bio-Rad Laboratories during the 3rd quarter worth about $354,000. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Bio-Rad Laboratories by 7.3% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 6,129 shares of the medical research company’s stock worth $2,039,000 after acquiring an additional 415 shares in the last quarter. Tamarack Advisers LP boosted its stake in shares of Bio-Rad Laboratories by 15.0% during the 3rd quarter. Tamarack Advisers LP now owns 115,000 shares of the medical research company’s stock worth $38,265,000 after acquiring an additional 15,000 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of Bio-Rad Laboratories by 5.6% during the 3rd quarter. Mason Street Advisors LLC now owns 11,272 shares of the medical research company’s stock worth $3,751,000 after acquiring an additional 594 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Bio-Rad Laboratories by 151.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 773 shares of the medical research company’s stock worth $257,000 after acquiring an additional 466 shares in the last quarter. 61.76% of the stock is currently owned by institutional investors and hedge funds.

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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