VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.96 Million in Bio-Rad Laboratories, Inc. $BIO

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 6,690 shares of the medical research company’s stock, valued at approximately $1,964,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BIO. Hollencrest Capital Management acquired a new stake in shares of Bio-Rad Laboratories during the first quarter worth about $28,000. Geneos Wealth Management Inc. boosted its stake in shares of Bio-Rad Laboratories by 115.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after acquiring an additional 76 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth about $47,000. Itau Unibanco Holding S.A. increased its stake in shares of Bio-Rad Laboratories by 57.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company’s stock worth $60,000 after purchasing an additional 72 shares in the last quarter. Finally, State of Wyoming acquired a new position in Bio-Rad Laboratories in the 4th quarter valued at about $74,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BIO has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their price target on Bio-Rad Laboratories from $320.00 to $370.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Wells Fargo & Company raised their target price on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Citigroup increased their target price on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories presently has a consensus rating of “Hold” and a consensus price target of $343.33.

Bio-Rad Laboratories Trading Up 0.1%

NYSE BIO opened at $368.97 on Friday. Bio-Rad Laboratories, Inc. has a 1-year low of $236.73 and a 1-year high of $396.23. The firm’s fifty day simple moving average is $344.36 and its 200-day simple moving average is $303.15. The company has a current ratio of 3.14, a quick ratio of 2.33 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $9.87 billion, a PE ratio of 44.72 and a beta of 1.07.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Tuesday, August 4th. The medical research company reported $2.62 EPS for the quarter, beating the consensus estimate of $1.75 by $0.87. Bio-Rad Laboratories had a return on equity of 3.54% and a net margin of 8.59%.The business had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $623.99 million. During the same quarter in the previous year, the business posted $2.61 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.28 earnings per share for the current fiscal year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a life science research and clinical diagnostics company headquartered in Hercules, California. Founded in 1952 by David and Alice Schwartz, the company develops, manufactures and markets products used by academic, pharmaceutical, biotechnology, healthcare and government customers.

Its Life Science segment provides instruments, reagents, consumables and software for applications including genomics, digital PCR, gene expression analysis, protein purification, cell biology and biopharmaceutical quality control.