Retirement Systems of Alabama Has $1.49 Million Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Retirement Systems of Alabama cut its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 92.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,612 shares of the medical research company’s stock after selling 55,210 shares during the period. Retirement Systems of Alabama’s holdings in Bio-Rad Laboratories were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Treasurer of the State of North Carolina increased its position in shares of Bio-Rad Laboratories by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 9,491 shares of the medical research company’s stock worth $3,402,000 after purchasing an additional 40 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Bio-Rad Laboratories by 2.5% in the third quarter. Teacher Retirement System of Texas now owns 1,711 shares of the medical research company’s stock valued at $613,000 after buying an additional 41 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Bio-Rad Laboratories by 15.8% during the 4th quarter. Signaturefd LLC now owns 352 shares of the medical research company’s stock worth $114,000 after acquiring an additional 48 shares during the period. Yousif Capital Management LLC increased its holdings in shares of Bio-Rad Laboratories by 1.9% in the fourth quarter. Yousif Capital Management LLC now owns 2,775 shares of the medical research company’s stock valued at $896,000 after purchasing an additional 51 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in Bio-Rad Laboratories by 0.7% in the 3rd quarter. HighTower Advisors LLC now owns 7,258 shares of the medical research company’s stock valued at $2,606,000 after buying an additional 54 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Michael Crowley sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the completion of the sale, the executive vice president now owns 6,942 shares in the company, valued at $2,332,512. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.50% of the company’s stock.

Analysts Set New Price Targets

BIO has been the subject of several research reports. Royal Bank of Canada dropped their price target on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a report on Friday, February 16th. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. UBS Group reduced their price target on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their target price for the company from $400.00 to $365.00 in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $461.00.

Bio-Rad Laboratories Trading Down 4.2 %

BIO opened at $268.26 on Thursday. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of -12.48 and a beta of 0.94. The company’s 50 day moving average price is $315.16 and its two-hundred day moving average price is $313.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.83 and a quick ratio of 4.34. Bio-Rad Laboratories, Inc. has a fifty-two week low of $261.59 and a fifty-two week high of $431.79.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.25. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The firm had revenue of $610.82 million for the quarter, compared to analyst estimates of $619.09 million. During the same period in the previous year, the firm earned $3.34 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. As a group, research analysts predict that Bio-Rad Laboratories, Inc. will post 10.41 earnings per share for the current year.

Bio-Rad Laboratories Profile

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.