Teachers Retirement System of The State of Kentucky Cuts Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,644 shares of the medical research company’s stock after selling 1,879 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.10% of Bio-Rad Laboratories worth $8,753,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Bio-Rad Laboratories by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,919,808 shares of the medical research company’s stock valued at $630,676,000 after buying an additional 12,168 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $342,686,000. Dimensional Fund Advisors LP increased its position in shares of Bio-Rad Laboratories by 14.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 746,119 shares of the medical research company’s stock worth $245,106,000 after purchasing an additional 91,690 shares in the last quarter. Sei Investments Co. lifted its holdings in Bio-Rad Laboratories by 7.5% in the 4th quarter. Sei Investments Co. now owns 271,387 shares of the medical research company’s stock valued at $89,156,000 after purchasing an additional 18,873 shares in the last quarter. Finally, Mawer Investment Management Ltd. grew its holdings in shares of Bio-Rad Laboratories by 17.9% during the fourth quarter. Mawer Investment Management Ltd. now owns 256,927 shares of the medical research company’s stock worth $84,403,000 after buying an additional 39,042 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $236.68 on Tuesday. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of -3.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. Bio-Rad Laboratories, Inc. has a 1 year low of $215.38 and a 1 year high of $387.99. The company’s 50 day simple moving average is $254.11 and its 200-day simple moving average is $310.67.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. As a group, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on BIO shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Wells Fargo & Company cut their target price on Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Finally, StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $380.20.

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.