Teacher Retirement System of Texas Takes Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Teacher Retirement System of Texas bought a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 1st quarter, Holdings Channel.com reports. The firm bought 2,847 shares of the medical research company’s stock, valued at approximately $693,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIO. Bank of America Corp DE boosted its position in shares of Bio-Rad Laboratories by 705.9% in the fourth quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company’s stock valued at $140,370,000 after acquiring an additional 374,269 shares during the period. Ariel Investments LLC lifted its position in shares of Bio-Rad Laboratories by 48.0% during the 4th quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company’s stock worth $184,138,000 after buying an additional 181,829 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Bio-Rad Laboratories by 22,131.7% during the first quarter. GAMMA Investing LLC now owns 147,841 shares of the medical research company’s stock valued at $36,008,000 after acquiring an additional 147,176 shares during the period. Norges Bank bought a new stake in Bio-Rad Laboratories during the fourth quarter worth about $41,644,000. Finally, Dimensional Fund Advisors LP increased its holdings in Bio-Rad Laboratories by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 746,119 shares of the medical research company’s stock valued at $245,106,000 after purchasing an additional 91,690 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

BIO has been the subject of several research analyst reports. Royal Bank Of Canada dropped their price objective on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday. Wells Fargo & Company dropped their price objective on Bio-Rad Laboratories from $260.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Monday, June 9th. UBS Group cut their price target on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Citigroup reduced their price objective on Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $324.25.

Bio-Rad Laboratories Price Performance

NYSE:BIO opened at $247.52 on Wednesday. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $387.99. The company has a market cap of $6.74 billion, a P/E ratio of -3.25 and a beta of 0.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.43 and a current ratio of 5.99. The stock’s 50-day simple moving average is $237.68 and its 200 day simple moving average is $268.02.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.81. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. The firm had revenue of $585.40 million during the quarter, compared to analysts’ expectations of $573.01 million. During the same quarter last year, the company posted $2.30 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

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.