Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.3% in the third quarter, HoldingsChannel.com reports. The fund owned 39,305 shares of the medical research company’s stock after selling 1,350 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Bio-Rad Laboratories were worth $12,302,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of BIO. Security National Trust Co. purchased a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth approximately $125,000. Boussard & Gavaudan Investment Management LLP purchased a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth approximately $202,000. World Asset Management Inc purchased a new position in shares of Bio-Rad Laboratories during the 2nd quarter worth approximately $213,000. Regentatlantic Capital LLC purchased a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth approximately $222,000. Finally, We Are One Seven LLC purchased a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth approximately $254,000. 63.87% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research note on Monday, November 12th. Barclays cut their target price on Bio-Rad Laboratories from $345.00 to $315.00 and set an “equal weight” rating for the company in a research note on Friday, November 2nd. Goldman Sachs Group assumed coverage on Bio-Rad Laboratories in a research note on Wednesday, October 17th. They set a “buy” rating and a $350.00 target price for the company. Jefferies Financial Group reissued a “buy” rating and set a $420.00 target price on shares of Bio-Rad Laboratories in a research note on Monday, September 24th. Finally, Morgan Stanley assumed coverage on Bio-Rad Laboratories in a research note on Thursday, September 20th. They set an “equal weight” rating and a $335.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $338.43.
NYSE BIO opened at $276.17 on Friday. Bio-Rad Laboratories, Inc. has a 1-year low of $231.00 and a 1-year high of $345.15. The company has a market capitalization of $8.27 billion, a P/E ratio of 52.91, a PEG ratio of 3.36 and a beta of 1.07. The company has a quick ratio of 3.16, a current ratio of 4.49 and a debt-to-equity ratio of 0.09.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, November 1st. The medical research company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.25). Bio-Rad Laboratories had a net margin of 55.13% and a return on equity of 3.72%. The firm had revenue of $545.10 million during the quarter, compared to analysts’ expectations of $541.23 million. During the same period in the previous year, the business earned $0.91 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 5.47 EPS for the current fiscal year.
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Bio-Rad Laboratories Profile
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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