Bio-Rad Laboratories, Inc. (NYSE:BIO) Stake Lowered by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,981 shares of the medical research company’s stock after selling 1,289 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.11% of Bio-Rad Laboratories worth $9,680,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in BIO. Treasurer of the State of North Carolina boosted its position in shares of Bio-Rad Laboratories by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 9,491 shares of the medical research company’s stock worth $3,402,000 after buying an additional 40 shares during the period. Parallel Advisors LLC boosted its position in shares of Bio-Rad Laboratories by 36.8% during the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after buying an additional 46 shares during the period. Signaturefd LLC boosted its position in shares of Bio-Rad Laboratories by 15.8% during the fourth quarter. Signaturefd LLC now owns 352 shares of the medical research company’s stock worth $114,000 after buying an additional 48 shares during the period. Gladius Capital Management LP boosted its position in shares of Bio-Rad Laboratories by 65.8% during the fourth quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock worth $39,000 after buying an additional 48 shares during the period. Finally, Yousif Capital Management LLC boosted its position in shares of Bio-Rad Laboratories by 1.9% during the fourth quarter. Yousif Capital Management LLC now owns 2,775 shares of the medical research company’s stock worth $896,000 after buying an additional 51 shares during the period. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO traded up $0.46 during trading on Friday, hitting $282.26. The company had a trading volume of 203,946 shares, compared to its average volume of 201,821. The company has a market cap of $8.05 billion, a P/E ratio of -27.25 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 52 week low of $261.59 and a 52 week high of $431.79. The business’s 50-day moving average is $288.43 and its 200 day moving average is $312.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.89 and a current ratio of 6.57.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.25. The company had revenue of $610.82 million for the quarter, compared to analysts’ expectations of $619.09 million. Bio-Rad Laboratories had a positive return on equity of 3.59% and a negative net margin of 12.37%. The firm’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.34 earnings per share. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Bio-Rad Laboratories

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their target price for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, May 28th. Finally, UBS Group cut their target price 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $436.67.

Bio-Rad Laboratories 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.