Texas Permanent School Fund Corp Reduces Stock Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Texas Permanent School Fund Corp trimmed its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 19.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,475 shares of the medical research company’s stock after selling 852 shares during the period. Texas Permanent School Fund Corp’s holdings in Bio-Rad Laboratories were worth $949,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its holdings in shares of Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after acquiring an additional 62 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Bio-Rad Laboratories during the first quarter worth about $38,000. Principal Securities Inc. bought a new stake in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $41,000. EntryPoint Capital LLC bought a new stake in Bio-Rad Laboratories in the 1st quarter valued at $51,000. Finally, Parallel Advisors LLC increased its holdings in shares of Bio-Rad Laboratories by 36.8% in the fourth quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price target for the company. Citigroup upped their price objective on shares of Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $401.00 target price on shares of Bio-Rad Laboratories in a report on Friday, August 16th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $358.20.

Insider Buying and Selling

In related news, EVP James Barry sold 623 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the sale, the executive vice president now owns 147 shares of the company’s stock, valued at $48,582.03. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP James Barry sold 623 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the sale, the executive vice president now directly owns 147 shares of the company’s stock, valued at $48,582.03. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Andrew J. Last sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the sale, the chief operating officer now owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. The disclosure for this sale can be found here. 17.06% of the stock is owned by insiders.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $329.99 on Friday. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of -32.02 and a beta of 0.95. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 52-week low of $261.59 and a 52-week high of $366.30. The company has a fifty day simple moving average of $323.25 and a 200-day simple moving average of $307.87.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.99. The business had revenue of $638.50 million during the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.00 EPS. On average, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.31 EPS for the current fiscal year.

Bio-Rad Laboratories Company 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.