The stock of Bio-Rad Laboratories, Inc. (NYSE:BIO) reached all time high today, Nov, 2 and still has $253.43 target or 53.00% above today’s $165.64 share price. This indicates more upside for the $4.83 billion company. This technical setup was reported by Barchart.com. If the $253.43 PT is reached, the company will be worth $2.56 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 6.51% or $10.12 during the last trading session, hitting $165.64. About 438,984 shares traded hands or 234.75% up from the average. Bio-Rad Laboratories, Inc. (NYSE:BIO) has risen 13.75% since March 31, 2016 and is uptrending. It has outperformed by 11.23% the S&P500.
Bio-Rad Laboratories, Inc. (NYSE:BIO) Ratings Coverage
Out of 2 analysts covering Bio-Rad Laboratories (NYSE:BIO), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Bio-Rad Laboratories has been the topic of 5 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Jefferies maintained it with “Buy” rating and $225 target price in Wednesday, September 7 report. The company was initiated on Thursday, October 13 by CL King.
According to Zacks Investment Research, “Bio-Rad Laboratories, Inc., together with its subsidiaries, engages in the manufacture and supply of products and systems for the life science research, healthcare, analytical chemistry, and other markets worldwide. The company’s products are used to separate complex chemical and biological materials, and to identify, analyze, and purify their components. It operates in two segments, Life Science and Clinical Diagnostics. The Life Science segment offers electrophoresis, image analysis, molecular detection, chromatography, gene transfer, sample preparation, and amplification products and services. The Clinical Diagnostics segment provides control, autoimmune, diabetes, and blood virus testing products. Bio-Rad is renowned worldwide among hospitals, universities, major research institutions, as well as biotechnology and pharmaceutical companies for its commitment to quality and customer service. The company is headquartered in Hercules, California.”
Insitutional Activity: The institutional sentiment decreased to 1.07 in 2016 Q2. Its down 0.11, from 1.18 in 2016Q1. The ratio turned negative, as 20 funds sold all Bio-Rad Laboratories, Inc. shares owned while 71 reduced positions. 18 funds bought stakes while 79 increased positions. They now own 17.57 million shares or 3.51% less from 18.21 million shares in 2016Q1.
Hbk Invests L P holds 0% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 1,678 shares. Liberty Mutual Gp Asset Mgmt last reported 0.05% of its portfolio in the stock. Proshare Advsr Ltd Liability Com holds 0% or 2,456 shares in its portfolio. Moreover, Wellington Mgmt Ltd Liability Partnership has 0% invested in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 53,111 shares. Dimensional Fund Advsrs Ltd Partnership holds 0.02% or 270,158 shares in its portfolio. Cubist Systematic Strategies Limited Liability Company has 0.02% invested in the company for 2,274 shares. Moreover, Breithorn Capital Mngmt has 0.2% invested in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 1,800 shares. The Manitoba – Canada-based Great West Life Assurance Co Can has invested 0% in Bio-Rad Laboratories, Inc. (NYSE:BIO). Envestnet Asset Management Inc reported 7,161 shares or 0% of all its holdings. Brown Brothers Harriman & Co reported 111 shares or 0% of all its holdings. Bbva Compass Bancshares Incorporated has 4,231 shares for 0.05% of their US portfolio. Plante Moran Advisors Limited has 34 shares for 0% of their US portfolio. The New York-based Levin Capital Strategies L P has invested 2.05% in Bio-Rad Laboratories, Inc. (NYSE:BIO). Citigroup Inc holds 0.01% or 36,734 shares in its portfolio. Moreover, Great Lakes has 0.22% invested in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 57,546 shares.
Insider Transactions: Since June 10, 2016, the stock had 0 insider buys, and 13 insider sales for $2.25 million net activity. On Thursday, September 8 the insider Magni Giovanni sold $67,898. 1,572 Bio-Rad Laboratories, Inc. (NYSE:BIO) shares with value of $228,402 were sold by Hall Shannon. 76 shares with value of $12,015 were sold by STARK JAMES R on Monday, September 12. On Friday, June 10 the insider SCHWARTZ ALICE N sold $1.03M. $102,357 worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) was sold by Crowley Michael. $36,043 worth of shares were sold by HERTIA JOHN on Monday, September 12.
Another recent and important Bio-Rad Laboratories, Inc. (NYSE:BIO) news was published by Seekingalpha.com which published an article titled: “Press Release” on November 01, 2016.
BIO Company Profile
Bio-Rad Laboratories, Inc. (Bio-Rad), incorporated on March 10, 1975, is a maker and distributor of life science research and clinical diagnostics products. The Firm makes 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. Bio-Rad operates in two divisions: Life Science and Clinical Diagnostics. The Company’s Life Science segment develops, makes, sells and services reagents, apparatus and instruments used for biological research. The Company’s Clinical Diagnostics segment develops, makes, sells and services automated test systems, informatics systems, test kits and specialized quality controls for the healthcare market. Bio-Rad sells over 8,000 services and products to a client base consisting of scientific research, healthcare, education and government clients around the world.
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