Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Free Report) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 572,100 shares, an increase of 36.9% from the October 31st total of 418,000 shares. Based on an average trading volume of 235,900 shares, the short-interest ratio is presently 2.4 days. Approximately 2.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BIO shares. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Wells Fargo & Company dropped their target price on shares of Bio-Rad Laboratories from $550.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, August 7th. Credit Suisse Group lowered their price target on Bio-Rad Laboratories from $580.00 to $550.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Finally, Royal Bank of Canada lifted their price target on Bio-Rad Laboratories from $522.00 to $524.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $533.00.

View Our Latest Analysis on BIO

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock traded up $2.08 during trading hours on Friday, reaching $307.00. 249,303 shares of the stock traded hands, compared to its average volume of 307,944. The company has a 50 day moving average price of $317.89 and a 200 day moving average price of $360.47. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of -52.48 and a beta of 0.93. Bio-Rad Laboratories has a one year low of $261.59 and a one year high of $509.62. The company has a quick ratio of 4.25, a current ratio of 5.64 and a debt-to-equity ratio of 0.14.

Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The medical research company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.54). The firm had revenue of $632.10 million for the quarter, compared to the consensus estimate of $689.50 million. Bio-Rad Laboratories had a negative net margin of 5.86% and a positive return on equity of 3.91%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 earnings per share. On average, equities research analysts expect that Bio-Rad Laboratories will post 11.6 earnings per share for the current fiscal year.

Insider Activity at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 642 shares of Bio-Rad Laboratories stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $305.10, for a total value of $195,874.20. Following the sale, the executive vice president now owns 6,942 shares in the company, valued at $2,118,004.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BIO. Massachusetts Financial Services Co. MA bought a new position in shares of Bio-Rad Laboratories during the 3rd quarter valued at approximately $116,036,000. Parnassus Investments LLC bought a new position in shares of Bio-Rad Laboratories during the 3rd quarter valued at approximately $79,143,000. Norges Bank bought a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at approximately $91,443,000. Deerfield Management Company L.P. Series C bought a new position in shares of Bio-Rad Laboratories during the 3rd quarter valued at approximately $62,351,000. Finally, Artisan Partners Limited Partnership bought a new position in Bio-Rad Laboratories in the 2nd quarter worth approximately $43,064,000. 63.98% of the stock is currently owned by institutional investors.

About Bio-Rad Laboratories (Get Free Report)

Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.

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Original: MarketBeat News Feed: Short Interest in Bio-Rad Laboratories, Inc. (NYSE:BIO) Expands By 36.9%