California State Teachers Retirement System decreased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 5.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,766 shares of the medical research company's stock after selling 1,166 shares during the quarter. California State Teachers Retirement System owned approximately 0.08% of Bio-Rad Laboratories worth $6,097,105 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AlphaGrep UK Ltd bought a new position in Bio-Rad Laboratories in the second quarter worth approximately $249,000. AXQ Capital LP purchased a new position in shares of Bio-Rad Laboratories in the second quarter valued at $416,000. Nykredit A S acquired a new stake in shares of Bio-Rad Laboratories during the second quarter worth about $118,000. Rehmann Capital Advisory Group lifted its holdings in Bio-Rad Laboratories by 8.3% during the second quarter. Rehmann Capital Advisory Group now owns 954 shares of the medical research company's stock valued at $280,000 after purchasing an additional 73 shares in the last quarter. Finally, BTG Pactual Asset Management US LLC acquired a new position in Bio-Rad Laboratories in the second quarter valued at approximately $270,000. 65.24% of the stock is owned by institutional investors.
Bio-Rad Laboratories Stock Performance
NYSE:BIO traded up $10.02 during mid-day trading on Tuesday, reaching $378.57. The stock had a trading volume of 314,879 shares, compared to its average volume of 317,401. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.33 and a current ratio of 3.14. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 45.92 and a beta of 1.07. Bio-Rad Laboratories, Inc. has a twelve month low of $236.73 and a twelve month high of $396.23. The business has a 50 day simple moving average of $345.85 and a 200 day simple moving average of $304.10.
Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The medical research company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.87. The firm had revenue of $651.00 million during the quarter, compared to analyst estimates of $623.99 million. Bio-Rad Laboratories had a return on equity of 3.54% and a net margin of 8.59%.Bio-Rad Laboratories's quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $2.61 earnings per share. On average, analysts expect that Bio-Rad Laboratories, Inc. will post 9.28 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
BIO has been the topic of several recent research reports. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Citigroup boosted their price objective on Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a "hold" rating in a research report on Wednesday, August 5th. Wells Fargo & Company boosted their price objective on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 5th. Weiss Ratings raised Bio-Rad Laboratories from a "sell (d)" rating to a "hold (c-)" rating in a research note on Monday, August 17th. Finally, Royal Bank Of Canada increased their price target on Bio-Rad Laboratories from $320.00 to $370.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $343.33.
View Our Latest Stock Analysis on Bio-Rad Laboratories
Bio-Rad Laboratories Profile
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Free Report)
Bio-Rad Laboratories, Inc is a life science research and clinical diagnostics company headquartered in Hercules, California. Founded in 1952 by David and Alice Schwartz, the company develops, manufactures and markets products used by academic, pharmaceutical, biotechnology, healthcare and government customers.
Its Life Science segment provides instruments, reagents, consumables and software for applications including genomics, digital PCR, gene expression analysis, protein purification, cell biology and biopharmaceutical quality control.
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