California State Teachers Retirement System Has $1.79 Billion Position in Bio-Rad Laboratories, Inc. $BIO

California State Teachers Retirement System boosted its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 27,700.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,097,105 shares of the medical research company's stock after acquiring an additional 6,075,173 shares during the quarter. California State Teachers Retirement System owned 22.80% of Bio-Rad Laboratories worth $1,790,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BIO. Hollencrest Capital Management bought a new position in shares of Bio-Rad Laboratories in the 1st quarter valued at $28,000. Geneos Wealth Management Inc. raised its stake in Bio-Rad Laboratories by 115.2% during the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company's stock worth $34,000 after acquiring an additional 76 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at approximately $47,000. Itau Unibanco Holding S.A. boosted its stake in shares of Bio-Rad Laboratories by 57.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company's stock valued at $60,000 after purchasing an additional 72 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at approximately $74,000. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $368.97 on Friday. The firm has a market cap of $9.87 billion, a P/E ratio of 44.72 and a beta of 1.07. The company has a quick ratio of 2.33, a current ratio of 3.14 and a debt-to-equity ratio of 0.11. The company's 50 day moving average is $344.36 and its 200-day moving average is $303.15. Bio-Rad Laboratories, Inc. has a 12-month low of $236.73 and a 12-month high of $396.23.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $2.62 EPS for the quarter, topping the consensus estimate of $1.75 by $0.87. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The company had revenue of $651.00 million during the quarter, compared to the consensus estimate of $623.99 million. During the same period last year, the firm earned $2.61 EPS. Bio-Rad Laboratories's revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 9.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Bio-Rad Laboratories from a "sell (d)" rating to a "hold (c-)" rating in a research note on Monday, August 17th. Zacks Research upgraded Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Finally, Citigroup upped their price target on Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $343.33.

About Bio-Rad Laboratories

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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