State of Michigan Retirement System Lowers Stock Position in Bio-Rad Laboratories, Inc. $BIO

State of Michigan Retirement System trimmed its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 10.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,500 shares of the medical research company’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in Bio-Rad Laboratories were worth $1,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIO. Caitong International Asset Management Co. Ltd grew its position in Bio-Rad Laboratories by 3,633.3% during the second 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 during the period. Quarry LP purchased a new position in shares of Bio-Rad Laboratories in the 1st quarter worth about $29,000. Allworth Financial LP lifted its stake in shares of Bio-Rad Laboratories by 260.0% in the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 104 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Bio-Rad Laboratories by 89.8% in the 2nd quarter. UMB Bank n.a. now owns 167 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 79 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in shares of Bio-Rad Laboratories by 64.1% during the 1st quarter. Headlands Technologies LLC now owns 356 shares of the medical research company’s stock worth $87,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Weiss Ratings raised shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 30th. Citigroup raised their target price on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Wells Fargo & Company upped their price target on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Finally, 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 report on Friday, August 1st. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $358.50.

Bio-Rad Laboratories Trading Down 0.5%

NYSE BIO opened at $305.07 on Friday. The stock has a market cap of $8.26 billion, a P/E ratio of -12.55 and a beta of 1.04. The company’s fifty day simple moving average is $300.02 and its 200-day simple moving average is $267.45. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $373.69.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results 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). 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 for the quarter, compared to analysts’ expectations of $651.30 million. During the same period last year, the firm earned $2.01 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

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.