Notable Price Action: What Next for Bio-Rad Laboratories, Inc. Stock After Reaching All-Time High?

Notable Price Action: What Next for Bio Rad Laboratories, Inc. Stock After Reaching All Time High?

The stock of Bio-Rad Laboratories, Inc. (NYSE:BIO) reached all time high today, Nov, 7 and still has $259.61 target or 54.00% above today’s $168.58 share price. This indicates more upside for the $5.18 billion company. This technical setup was reported by Barchart.com. If the $259.61 PT is reached, the company will be worth $2.80B 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 2.33% or $3.84 on November 7, hitting $168.58. About 142,421 shares traded hands. Bio-Rad Laboratories, Inc. (NYSE:BIO) has risen 22.00% since April 5, 2016 and is uptrending. It has outperformed by 20.05% 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. As per Thursday, October 13, the company rating was initiated by CL King. Jefferies maintained the stock with “Buy” rating in Wednesday, September 7 report.

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 is 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.
M&T Bancorp Corporation, a New York-based fund reported 1,877 shares. Int Group Inc has invested 0% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO). Swiss National Bank & Trust holds 0.01% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 34,407 shares. Retirement Systems Of Alabama holds 0.02% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 26,923 shares. Cubist Systematic Strategies Ltd Llc holds 0.02% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 2,274 shares. Quantbot L P, a New York-based fund reported 6 shares. Parametrica Mgmt Ltd has 2,669 shares for 0.57% of their US portfolio. Peak6 Investments L P has invested 0% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO). Teachers Advisors accumulated 22,170 shares or 0.01% of the stock. Royal State Bank Of Canada reported 6,426 shares or 0% of all its holdings. Polar Asset Mngmt Prtnrs reported 128,861 shares or 0.75% of all its holdings. Moreover, Breithorn Mgmt has 0.2% invested in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 1,800 shares. Regions Financial last reported 0.01% of its portfolio in the stock. First Interstate National Bank holds 0.07% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 2,500 shares. Bnp Paribas Prtnrs, a France-based fund reported 3,806 shares.

Insider Transactions: Since June 10, 2016, the stock had 0 insider buys, and 13 selling transactions for $2.25 million net activity. The insider Hall Shannon sold $228,402. Magni Giovanni sold 92 shares worth $14,543. $12,015 worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) was sold by STARK JAMES R. $539,250 worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) was sold by HERTIA JOHN on Friday, September 9. On Thursday, August 18 the insider Crowley Michael sold $102,357. The insider SCHWARTZ ALICE N sold 7,000 shares worth $1.03 million.

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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