Stock On Watch: Could Bio-Rad Laboratories, Inc. See a Reversal After Breaking All Highs?

Stock On Watch: Could Bio Rad Laboratories, Inc. See a Reversal After Breaking All Highs?

The stock of Bio-Rad Laboratories, Inc. (NYSE:BIO) reached all time high today, Oct, 10 and still has $273.50 target or 66.00% above today’s $164.76 share price. This indicates more upside for the $4.89 billion company. This technical setup was reported by Barchart.com. If the $273.50 PT is reached, the company will be worth $3.23B 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. About 22,274 shares traded hands. Bio-Rad Laboratories, Inc. (NYSE:BIO) has risen 17.89% since March 7, 2016 and is uptrending. It has outperformed by 10.30% the S&P500.

Analysts await Bio-Rad Laboratories, Inc. (NYSE:BIO) to report earnings on November, 1. They expect $0.51 earnings per share, down 13.56% or $0.08 from last year’s $0.59 per share. BIO’s profit will be $15.14 million for 80.76 P/E if the $0.51 EPS becomes a reality. After $0.61 actual earnings per share reported by Bio-Rad Laboratories, Inc. for the previous quarter, Wall Street now forecasts -16.39% negative EPS growth.

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.
California Pub Employees Retirement Sys, a California-based fund reported 58,339 shares. New York State Teachers Retirement Systems has 14,100 shares for 0.01% of their US portfolio. Martin And Incorporated Tn accumulated 0.31% or 6,665 shares. Janus Capital Ltd Com last reported 7,900 shares in the company. Aperio Group Inc Ltd Liability Com holds 0.02% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 13,530 shares. Checchi Cap Advisers Limited Liability last reported 334 shares in the company. The California-based Eqis Mgmt has invested 0.05% in Bio-Rad Laboratories, Inc. (NYSE:BIO). Brown Brothers Harriman And Comm accumulated 111 shares or 0% of the stock. Bokf Na has invested 0.01% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO). Price T Rowe Assoc Inc Md reported 114,237 shares or 0% of all its holdings. Secor Capital Advsr Ltd Partnership owns 1,561 shares or 0.03% of their US portfolio. Peak6 Investments L P, a Illinois-based fund reported 1,148 shares. Sector Gamma As has 129,124 shares for 3.74% of their US portfolio. Parametrica Mgmt Ltd last reported 0.57% of its portfolio in the stock. First Light Asset Ltd Limited Liability Company has invested 0.11% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO).

Insider Transactions: Since June 10, 2016, the stock had 0 insider buys, and 13 selling transactions for $2.25 million net activity. Magni Giovanni sold $67,898 worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) on Thursday, September 8. $539,250 worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) was sold by HERTIA JOHN on Friday, September 9. 523 shares were sold by Crowley Michael, worth $81,075 on Saturday, September 10. $228,402 worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) was sold by Hall Shannon on Monday, June 13. Another trade for 269 shares valued at $41,699 was made by STARK JAMES R on Saturday, September 10. $1.03M worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) was sold by SCHWARTZ ALICE N on Friday, June 10.

Another recent and important Bio-Rad Laboratories, Inc. (NYSE:BIO) news was published by Businesswire.com which published an article titled: “Bio-Rad and Illumina to Co-Develop Comprehensive Solution for Single-Cell Genomics” on January 11, 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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