Louisiana State Employees Retirement System Takes Position in Bio-Rad Laboratories, Inc. $BIO

Louisiana State Employees Retirement System acquired a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,300 shares of the medical research company’s stock, valued at approximately $1,477,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. William B. Walkup & Associates Inc. grew its position in Bio-Rad Laboratories by 2.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 1,902 shares of the medical research company’s stock worth $530,000 after acquiring an additional 48 shares during the last quarter. CWM LLC increased its stake in Bio-Rad Laboratories by 26.7% in the 4th quarter. CWM LLC now owns 256 shares of the medical research company’s stock worth $78,000 after purchasing an additional 54 shares during the period. Meeder Advisory Services Inc. lifted its position in Bio-Rad Laboratories by 9.0% in the fourth quarter. Meeder Advisory Services Inc. now owns 813 shares of the medical research company’s stock valued at $246,000 after purchasing an additional 67 shares during the last quarter. RK Asset Management LLC lifted its position in Bio-Rad Laboratories by 0.5% in the fourth quarter. RK Asset Management LLC now owns 14,573 shares of the medical research company’s stock valued at $4,415,000 after purchasing an additional 71 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of Bio-Rad Laboratories by 57.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company’s stock valued at $60,000 after purchasing an additional 72 shares during the period. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Down 0.1%

NYSE BIO opened at $296.78 on Friday. The stock has a market cap of $7.94 billion, a P/E ratio of 48.89 and a beta of 1.08. Bio-Rad Laboratories, Inc. has a fifty-two week low of $236.73 and a fifty-two week high of $343.12. The stock has a 50 day simple moving average of $284.17 and a two-hundred day simple moving average of $287.97. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.37 and a current ratio of 3.21.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.08). The business had revenue of $592.10 million for the quarter, compared to analysts’ expectations of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. Bio-Rad Laboratories’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $2.54 earnings per share. On average, analysts forecast that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on BIO. Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their target price for the stock from $375.00 to $300.00 in a report on Tuesday, April 7th. Royal Bank Of Canada started coverage on shares of Bio-Rad Laboratories in a research report on Friday, May 15th. They set an “outperform” rating and a $320.00 price target for the company. Weiss Ratings lowered shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company cut their price target on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $303.33.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.