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

Retirement Systems of Alabama lessened its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 92.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,612 shares of the medical research company’s stock after selling 55,210 shares during the quarter. Retirement Systems of Alabama’s holdings in Bio-Rad Laboratories were worth $1,489,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Raymond James & Associates boosted its holdings in shares of Bio-Rad Laboratories by 2.3% in the third quarter. Raymond James & Associates now owns 34,732 shares of the medical research company’s stock valued at $12,450,000 after buying an additional 767 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Bio-Rad Laboratories by 0.5% in the third quarter. New York State Teachers Retirement System now owns 15,952 shares of the medical research company’s stock valued at $5,718,000 after purchasing an additional 84 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Bio-Rad Laboratories by 1.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,127 shares of the medical research company’s stock worth $4,705,000 after buying an additional 140 shares during the period. IFM Investors Pty Ltd grew its holdings in shares of Bio-Rad Laboratories by 5.2% during the third quarter. IFM Investors Pty Ltd now owns 4,057 shares of the medical research company’s stock worth $1,454,000 after buying an additional 200 shares in the last quarter. Finally, Advisor Partners II LLC lifted its stake in Bio-Rad Laboratories by 25.1% in the 3rd quarter. Advisor Partners II LLC now owns 1,336 shares of the medical research company’s stock valued at $479,000 after acquiring an additional 268 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Bio-Rad Laboratories Price Performance

Shares of BIO opened at $268.26 on Thursday. The company’s 50-day moving average is $315.16 and its 200-day moving average 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. The firm has a market capitalization of $7.65 billion, a PE ratio of -12.48 and a beta of 0.94. 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 released its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The business had revenue of $610.82 million for the quarter, compared to analyst estimates of $619.09 million. During the same period last year, the firm earned $3.34 earnings per share. Bio-Rad Laboratories’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current year.

Insider Buying and Selling at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was 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 directly owns 6,942 shares in the company, valued at approximately $2,332,512. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 17.50% of the company’s stock.

Bio-Rad Laboratories Company 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.