Teachers Retirement System of The State of Kentucky decreased its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 21.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,975 shares of the medical research company’s stock after selling 15,200 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.19% of Bio-Rad Laboratories worth $13,598,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Westfield Capital Management Co. LP bought a new position in shares of Bio-Rad Laboratories in the 3rd quarter worth $22,175,000. Wells Fargo & Company MN lifted its holdings in shares of Bio-Rad Laboratories by 16.7% in the 4th quarter. Wells Fargo & Company MN now owns 625,032 shares of the medical research company’s stock worth $149,175,000 after purchasing an additional 89,347 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Bio-Rad Laboratories by 5.0% in the 4th quarter. BlackRock Inc. now owns 1,776,710 shares of the medical research company’s stock worth $424,046,000 after purchasing an additional 85,176 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Bio-Rad Laboratories by 228.5% in the 4th quarter. Deutsche Bank AG now owns 92,030 shares of the medical research company’s stock worth $21,964,000 after purchasing an additional 64,016 shares in the last quarter. Finally, Claar Advisors LLC bought a new position in shares of Bio-Rad Laboratories in the 3rd quarter worth $13,333,000. 64.51% of the stock is owned by institutional investors.
Bio-Rad Laboratories, Inc. (BIO) opened at $270.94 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.93 and a quick ratio of 2.75. Bio-Rad Laboratories, Inc. has a twelve month low of $194.01 and a twelve month high of $279.59. The stock has a market capitalization of $8,150.30, a price-to-earnings ratio of 71.11, a P/E/G ratio of 2.34 and a beta of 0.89.
Bio-Rad Laboratories declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 28th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other Bio-Rad Laboratories news, CFO Christine A. Tsingos sold 4,980 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $249.40, for a total transaction of $1,242,012.00. Following the transaction, the chief financial officer now directly owns 7,283 shares in the company, valued at approximately $1,816,380.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 28.29% of the stock is currently owned by company insiders.
A number of equities analysts recently issued reports on BIO shares. Zacks Investment Research upgraded Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 target price on the stock in a report on Wednesday, December 13th. CL King cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a report on Friday, February 16th. Citigroup increased their target price on Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Jefferies Group increased their target price on Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $290.00 target price (up from $250.00) on shares of Bio-Rad Laboratories in a report on Wednesday, November 29th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $295.20.
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Bio-Rad Laboratories Profile
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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