California State Teachers Retirement System Boosts Position in Bio-Rad Laboratories, Inc. $BIO

California State Teachers Retirement System increased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 22.9% during the 1st quarter, HoldingsChannel reports. The fund owned 21,932 shares of the medical research company’s stock after acquiring an additional 4,082 shares during the quarter. California State Teachers Retirement System’s holdings in Bio-Rad Laboratories were worth $6,114,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Royal Bank of Canada increased its position in Bio-Rad Laboratories by 16.9% during the first quarter. Royal Bank of Canada now owns 17,198 shares of the medical research company’s stock worth $4,794,000 after purchasing an additional 2,487 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Bio-Rad Laboratories by 38.0% in the 1st quarter. Empowered Funds LLC now owns 2,168 shares of the medical research company’s stock valued at $604,000 after buying an additional 597 shares during the period. Hound Partners LLC increased its holdings in shares of Bio-Rad Laboratories by 125.9% during the 1st quarter. Hound Partners LLC now owns 97,724 shares of the medical research company’s stock worth $27,241,000 after buying an additional 54,456 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $5,098,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Bio-Rad Laboratories during the 1st quarter valued at approximately $4,388,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Up 4.7%

NYSE:BIO opened at $348.47 on Thursday. Bio-Rad Laboratories, Inc. has a 12-month low of $236.73 and a 12-month high of $352.63. The firm has a market cap of $9.33 billion, a PE ratio of 42.24 and a beta of 1.06. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $301.88 and a 200 day moving average price of $287.99.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.87. The company had revenue of $651.00 million for the quarter, compared to the consensus estimate of $623.99 million. Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 8.59%.Bio-Rad Laboratories’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.61 EPS. Sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on BIO shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Bio-Rad Laboratories in a research report on Monday. Royal Bank Of Canada boosted their price objective on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup increased their target price on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Zacks Research downgraded shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Bio-Rad Laboratories has a consensus rating of “Reduce” and a consensus price target of $343.33.

More Bio-Rad Laboratories News

Here are the key news stories impacting Bio-Rad Laboratories this week:

• Positive Sentiment: Bio-Rad reported second-quarter adjusted earnings of $2.62 per share, exceeding the $1.75 consensus estimate, while revenue of $651 million also topped expectations of approximately $624 million. Earnings were essentially flat year over year, but the strong beat is supporting investor sentiment. Bio-Rad Laboratories Q2 earnings report
• Positive Sentiment: RBC raised its price target from $320 to $370 and maintained an “outperform” rating, implying further upside from the current trading level. The revision indicates confidence that Bio-Rad’s earnings performance and outlook can improve. RBC raises Bio-Rad price target
• Neutral Sentiment: Citigroup lifted its target from $300 to $330 but retained a “neutral” rating, while Wells Fargo raised its target from $310 to $330 and kept an “equal weight” rating. Both targets remain below the recent share price, suggesting limited near-term upside in those analysts’ views. Analysts raise Bio-Rad price targets
• Neutral Sentiment: Bio-Rad’s fiscal-year revenue guidance of $2.5 billion to $2.6 billion is broadly consistent with, but potentially below, the $2.6 billion analyst consensus. The lack of a clearly higher outlook may limit the positive impact of the quarterly earnings beat. Bio-Rad third-quarter outlook
• Negative Sentiment: The company plans to cut jobs and close facilities, signaling restructuring activity and pressure to improve efficiency. While these actions could reduce costs over time, they also highlight weaker operating conditions and may weigh on investor sentiment initially. Bio-Rad to cut jobs and close facilities

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.