Maryland State Retirement & Pension System Cuts Stock Holdings in Bio-Rad Laboratories, Inc. $BIO

Maryland State Retirement & Pension System cut its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 19.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 883 shares of the medical research company’s stock after selling 220 shares during the period. Maryland State Retirement & Pension System’s holdings in Bio-Rad Laboratories were worth $215,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIO. CenterBook Partners LP raised its position in shares of Bio-Rad Laboratories by 125.5% in the first quarter. CenterBook Partners LP now owns 26,654 shares of the medical research company’s stock worth $6,492,000 after acquiring an additional 14,835 shares during the period. Headlands Technologies LLC grew its holdings in Bio-Rad Laboratories by 64.1% in the first quarter. Headlands Technologies LLC now owns 356 shares of the medical research company’s stock valued at $87,000 after purchasing an additional 139 shares during the period. Ontario Teachers Pension Plan Board increased its position in shares of Bio-Rad Laboratories by 8.8% in the first quarter. Ontario Teachers Pension Plan Board now owns 2,217 shares of the medical research company’s stock valued at $540,000 after buying an additional 179 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Bio-Rad Laboratories by 5.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 203,180 shares of the medical research company’s stock valued at $49,487,000 after buying an additional 11,313 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $461,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Up 0.8%

Shares of Bio-Rad Laboratories stock opened at $286.93 on Wednesday. The stock has a 50 day moving average of $253.57 and a 200 day moving average of $253.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 5.12. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 24.46 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.68. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The firm had revenue of $651.60 million during the quarter, compared to the consensus estimate of $614.82 million. During the same period last year, the company earned $3.11 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on BIO shares. Citigroup reduced their price objective on shares of 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. Wall Street Zen upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Wells Fargo & Company increased their target price on Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Royal Bank Of Canada raised their target price on Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, UBS Group dropped their price target on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

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.