Retirement Systems of Alabama Sells 723 Shares of Bio-Rad Laboratories, Inc. $BIO

Retirement Systems of Alabama trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,732 shares of the medical research company’s stock after selling 723 shares during the period. Retirement Systems of Alabama’s holdings in Bio-Rad Laboratories were worth $5,486,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BIO. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Bio-Rad Laboratories by 25.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,033 shares of the medical research company’s stock valued at $252,000 after purchasing an additional 209 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Bio-Rad Laboratories by 1.2% in the first quarter. New York State Teachers Retirement System now owns 17,500 shares of the medical research company’s stock valued at $4,262,000 after purchasing an additional 200 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Bio-Rad Laboratories in the first quarter valued at about $693,000. Principal Financial Group Inc. lifted its holdings in shares of Bio-Rad Laboratories by 0.5% in the first quarter. Principal Financial Group Inc. now owns 44,343 shares of the medical research company’s stock valued at $10,800,000 after purchasing an additional 236 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Bio-Rad Laboratories by 7.0% in the first quarter. IFM Investors Pty Ltd now owns 3,445 shares of the medical research company’s stock valued at $839,000 after purchasing an additional 226 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of NYSE BIO opened at $311.13 on Tuesday. The stock has a 50 day moving average price of $298.98 and a 200 day moving average price of $265.87. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $387.99. 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 stock has a market capitalization of $8.42 billion, a PE ratio of -12.80 and a beta of 0.97.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Wednesday, October 29th. The medical research company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.04). The business had revenue of $653.00 million during the quarter, compared to the consensus estimate of $651.30 million. Bio-Rad Laboratories had a negative net margin of 26.43% and a positive return on equity of 4.18%. Bio-Rad Laboratories’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 EPS. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BIO shares. Wall Street Zen upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Royal Bank Of Canada increased their price target 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. Citigroup increased their price target on Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings raised Bio-Rad Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.50.

Bio-Rad Laboratories 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.