Teachers Retirement System of The State of Kentucky Sells 5,596 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 18.7% during the 1st quarter, Holdings Channel reports. The firm owned 24,385 shares of the medical research company’s stock after selling 5,596 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Bio-Rad Laboratories were worth $8,434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in Bio-Rad Laboratories by 36.8% during the 4th quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock valued at $55,000 after buying an additional 46 shares in the last quarter. Signaturefd LLC grew its holdings in Bio-Rad Laboratories by 15.8% during the 4th quarter. Signaturefd LLC now owns 352 shares of the medical research company’s stock valued at $114,000 after buying an additional 48 shares in the last quarter. Gladius Capital Management LP grew its holdings in Bio-Rad Laboratories by 65.8% during the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after buying an additional 48 shares in the last quarter. Wahed Invest LLC boosted its holdings in shares of Bio-Rad Laboratories by 14.0% in the 1st quarter. Wahed Invest LLC now owns 399 shares of the medical research company’s stock worth $138,000 after purchasing an additional 49 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in shares of Bio-Rad Laboratories by 1.9% in the 4th quarter. Yousif Capital Management LLC now owns 2,775 shares of the medical research company’s stock worth $896,000 after purchasing an additional 51 shares during the period. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup lifted their target price on Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a report on Friday. Royal Bank of Canada dropped their target price on Bio-Rad Laboratories from $402.00 to $401.00 and set an “outperform” rating for the company in a report on Friday. Jefferies Financial Group reiterated a “hold” rating and issued a $315.00 target price (down previously from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Finally, UBS Group dropped their price objective on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $421.00.

Bio-Rad Laboratories Stock Down 1.6 %

NYSE BIO traded down $5.32 on Friday, reaching $335.93. 448,637 shares of the stock traded hands, compared to its average volume of 240,792. 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 fifty day moving average price of $293.21 and a 200-day moving average price of $307.67. The company has a market cap of $9.58 billion, a price-to-earnings ratio of -32.43 and a beta of 0.93. Bio-Rad Laboratories, Inc. has a 12 month low of $261.59 and a 12 month high of $419.00.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, August 1st. The medical research company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.99. The business had revenue of $638.50 million during the quarter, compared to analyst estimates of $645.79 million. Bio-Rad Laboratories had a positive return on equity of 3.56% and a negative net margin of 51.73%. Bio-Rad Laboratories’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.00 EPS. As a group, research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.8 EPS 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 Bio-Rad Laboratories stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total transaction of $104,024.79. Following the completion of 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 filing with the SEC, which is available at the SEC website. 17.06% of the stock is currently owned by corporate insiders.

About Bio-Rad Laboratories

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.