Retirement Systems of Alabama Lowers Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Retirement Systems of Alabama trimmed its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,500 shares of the medical research company’s stock after selling 120 shares during the period. Retirement Systems of Alabama’s holdings in Bio-Rad Laboratories were worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in Bio-Rad Laboratories by 12.2% in the second quarter. Fifth Third Bancorp now owns 12,595 shares of the medical research company’s stock worth $3,440,000 after purchasing an additional 1,368 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Bio-Rad Laboratories by 11.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 6,670 shares of the medical research company’s stock worth $1,821,000 after buying an additional 660 shares during the period. Blue Trust Inc. grew its position in shares of Bio-Rad Laboratories by 20.0% during the 2nd quarter. Blue Trust Inc. now owns 859 shares of the medical research company’s stock worth $235,000 after buying an additional 143 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Bio-Rad Laboratories by 36.3% during the second quarter. Assenagon Asset Management S.A. now owns 54,332 shares of the medical research company’s stock valued at $14,839,000 after buying an additional 14,457 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Bio-Rad Laboratories by 9.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 947 shares of the medical research company’s stock worth $259,000 after acquiring an additional 82 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BIO has been the subject of several recent research reports. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a report on Tuesday. They issued an “equal weight” rating and a $340.00 price target for the company. Citigroup boosted their price objective on shares of Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $401.00 target price on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. UBS Group reduced their price target on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $358.20.

Insider Buying and Selling

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 369 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $281.91, for a total transaction of $104,024.79. Following the sale, the executive vice president now owns 6,573 shares in the company, valued at approximately $1,852,994.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.06% of the stock is currently owned by company insiders.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $319.67 on Wednesday. Bio-Rad Laboratories, Inc. has a fifty-two week low of $261.59 and a fifty-two week high of $406.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.89 and a current ratio of 6.57. The company has a market cap of $9.12 billion, a PE ratio of -30.86 and a beta of 0.93. The business has a 50-day simple moving average of $305.14 and a two-hundred day simple moving average of $307.76.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, August 1st. The medical research company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.99. The company had revenue of $638.50 million for the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.56%. Bio-Rad Laboratories’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.00 EPS. As a group, equities analysts expect that Bio-Rad Laboratories, Inc. will post 10.8 EPS for the current fiscal year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.