Public Employees Retirement System of Ohio Makes New $1.61 Million Investment in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Public Employees Retirement System of Ohio acquired 5,488 Bio-Rad Laboratories shares worth approximately $1.61 million in the second quarter. Institutional investors collectively own 65.24% of the company.
• Analysts maintain a largely neutral outlook, with one Buy and four Hold ratings. Bio-Rad has a consensus rating of Hold and an average price target of $343.33.
• Bio-Rad reported quarterly earnings of $2.62 per share, beating estimates of $1.75, while revenue reached $651 million versus expectations of $623.99 million. Shares opened at $386.26, near their 12-month high of $396.23.

Public Employees Retirement System of Ohio acquired a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,488 shares of the medical research company's stock, valued at approximately $1,611,000.

Other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in Bio-Rad Laboratories by 22.9% during the first quarter. California State Teachers Retirement System now owns 21,932 shares of the medical research company's stock valued at $6,114,000 after purchasing an additional 4,082 shares in the last quarter. Westport Asset Management Inc. purchased a new stake in shares of Bio-Rad Laboratories in the second quarter worth $881,000. Lazard Asset Management LLC bought a new stake in shares of Bio-Rad Laboratories during the 1st quarter valued at $5,098,000. Assetmark Inc. lifted its stake in shares of Bio-Rad Laboratories by 19.0% during the 1st quarter. Assetmark Inc. now owns 38,989 shares of the medical research company's stock valued at $10,868,000 after buying an additional 6,224 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Bio-Rad Laboratories by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,089,323 shares of the medical research company's stock worth $303,637,000 after buying an additional 12,251 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on BIO shares. 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. Royal Bank Of Canada increased their target price on Bio-Rad Laboratories from $320.00 to $370.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Zacks Research raised Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Weiss Ratings raised Bio-Rad Laboratories from a "sell (d)" rating to a "hold (c-)" rating in a report on Monday, August 17th. Finally, Wells Fargo & Company boosted their price target on Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an "equal weight" 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $343.33.

Bio-Rad Laboratories Trading Up 0.0%

Shares of Bio-Rad Laboratories stock opened at $386.26 on Tuesday. Bio-Rad Laboratories, Inc. has a twelve month low of $236.73 and a twelve month high of $396.23. 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 business has a 50-day moving average price of $338.09 and a 200-day moving average price of $300.48. The firm has a market cap of $10.33 billion, a price-to-earnings ratio of 46.82 and a beta of 1.07.

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

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.

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