California State Teachers Retirement System Reduces Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

California State Teachers Retirement System cut its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,897 shares of the medical research company's stock after selling 4,681 shares during the period. California State Teachers Retirement System owned about 0.09% of Bio-Rad Laboratories worth $8,507,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BIO. Venturi Wealth Management LLC increased its holdings in shares of Bio-Rad Laboratories by 2,175.0% in the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock valued at $30,000 after acquiring an additional 87 shares during the period. GeoWealth Management LLC grew its position in Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock worth $31,000 after purchasing an additional 72 shares during the last quarter. Picton Mahoney Asset Management increased its stake in Bio-Rad Laboratories by 55.6% in the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock valued at $32,000 after purchasing an additional 35 shares during the period. Asset Planning Inc purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $33,000. Finally, Cape Investment Advisory Inc. purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Price Performance

Shares of BIO traded up $2.71 during mid-day trading on Wednesday, hitting $223.28. The company's stock had a trading volume of 59,473 shares, compared to its average volume of 325,001. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 1-year low of $211.43 and a 1-year high of $387.99. The firm has a market capitalization of $6.08 billion, a P/E ratio of -3.43 and a beta of 1.00. The firm has a 50-day simple moving average of $237.85 and a 200 day simple moving average of $287.41.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.81. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. The firm had revenue of $585.40 million during the quarter, compared to analysts' expectations of $573.01 million. During the same quarter in the prior year, the business posted $2.30 earnings per share. Bio-Rad Laboratories's revenue was down 4.2% compared to the same quarter last year. Analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group dropped their price target on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup decreased their price target on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company dropped their price objective on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Finally, Royal Bank of Canada reduced their target price on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Bio-Rad Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $330.50.

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.