Teacher Retirement System of Texas Increases Stock Holdings in Bio-Rad Laboratories, Inc. $BIO

Teacher Retirement System of Texas boosted its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 19.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,409 shares of the medical research company’s stock after purchasing an additional 562 shares during the quarter. Teacher Retirement System of Texas’ holdings in Bio-Rad Laboratories were worth $823,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BIO. Oppenheimer Asset Management Inc. boosted its stake in shares of Bio-Rad Laboratories by 1.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,871 shares of the medical research company’s stock valued at $693,000 after purchasing an additional 54 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Bio-Rad Laboratories by 20.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 8,292 shares of the medical research company’s stock worth $2,001,000 after buying an additional 1,387 shares in the last quarter. Sector Gamma AS lifted its holdings in Bio-Rad Laboratories by 28.9% in the second quarter. Sector Gamma AS now owns 17,829 shares of the medical research company’s stock worth $4,302,000 after buying an additional 4,000 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Bio-Rad Laboratories by 3,633.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 112 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 109 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Bio-Rad Laboratories in the 2nd quarter worth approximately $652,000. 65.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BIO shares. Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Citigroup raised their price objective 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. Royal Bank Of Canada boosted their target price on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Weiss Ratings upgraded shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $358.50.

Bio-Rad Laboratories Trading Down 0.5%

NYSE BIO opened at $305.07 on Friday. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $373.69. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average price is $300.02 and its 200-day moving average price is $267.45. The stock has a market cap of $8.26 billion, a P/E ratio of -12.55 and a beta of 1.04.

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

About Bio-Rad Laboratories

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.