VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Bio-Rad Laboratories, Inc. $BIO

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 2nd quarter, according to its most recent 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 also recently modified their holdings of BIO. William B. Walkup & Associates Inc. lifted its holdings in shares of Bio-Rad Laboratories by 2.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 1,902 shares of the medical research company’s stock worth $530,000 after acquiring an additional 48 shares during the period. Cetera Investment Advisers grew its holdings in shares of Bio-Rad Laboratories by 0.6% during the first quarter. Cetera Investment Advisers now owns 7,596 shares of the medical research company’s stock worth $2,117,000 after purchasing an additional 48 shares during the last quarter. Meeder Advisory Services Inc. increased its position in Bio-Rad Laboratories by 9.0% in the 4th quarter. Meeder Advisory Services Inc. now owns 813 shares of the medical research company’s stock valued at $246,000 after acquiring an additional 67 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of Bio-Rad Laboratories by 57.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company’s stock valued at $60,000 after buying an additional 72 shares during the period. Finally, Rehmann Capital Advisory Group grew its position in shares of Bio-Rad Laboratories by 8.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 954 shares of the medical research company’s stock worth $280,000 after buying an additional 73 shares during the period. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

BIO has been the subject of several recent analyst reports. Weiss Ratings raised shares of Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Royal Bank Of Canada upped their target price on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Citigroup raised their price objective on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Wells Fargo & Company boosted their price target 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, Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $343.33.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $368.97 on Friday. Bio-Rad Laboratories, Inc. has a twelve month low of $236.73 and a twelve month high of $396.23. The company has a quick ratio of 2.33, a current ratio of 3.14 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $344.36 and a 200 day simple moving average of $303.15. 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 data on Tuesday, August 4th. The medical research company reported $2.62 EPS for the quarter, topping the consensus estimate of $1.75 by $0.87. The company had revenue of $651.00 million during the quarter, compared to the consensus estimate of $623.99 million. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $2.61 EPS. On average, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 9.28 EPS for the current 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.