Kentucky Retirement Systems Sells 53 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Kentucky Retirement Systems reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,537 shares of the medical research company’s stock after selling 53 shares during the period. Kentucky Retirement Systems’ holdings in Bio-Rad Laboratories were worth $420,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BIO. First Eagle Investment Management LLC boosted its stake in Bio-Rad Laboratories by 32,296.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after purchasing an additional 634,311 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Bio-Rad Laboratories by 38.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 151,691 shares of the medical research company’s stock worth $48,980,000 after buying an additional 41,937 shares in the last quarter. Swedbank AB bought a new position in shares of Bio-Rad Laboratories in the first quarter valued at approximately $1,824,000. Campbell & CO Investment Adviser LLC purchased a new position in Bio-Rad Laboratories during the fourth quarter valued at approximately $2,609,000. Finally, DAVENPORT & Co LLC bought a new stake in Bio-Rad Laboratories during the 1st quarter worth approximately $15,340,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $315.00 price target (down previously from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 target price on the stock. Citigroup lifted their price target on Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $401.00 price objective on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Finally, StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $358.20.

Insider Activity at Bio-Rad Laboratories

In other Bio-Rad Laboratories 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Andrew J. Last sold 3,000 shares of the firm’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 transaction, the chief operating officer now owns 7,559 shares in the company, valued at $2,494,016.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Barry sold 623 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction 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 disclosure for this sale can be found here. 17.06% of the stock is owned by insiders.

Bio-Rad Laboratories Price Performance

BIO opened at $330.01 on Friday. The stock has a market capitalization of $9.41 billion, a P/E ratio of -31.85 and a beta of 0.95. The company has a current ratio of 6.28, a quick ratio of 4.63 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories, Inc. has a 12-month low of $261.59 and a 12-month high of $366.30. The stock has a 50-day moving average price of $323.76 and a 200-day moving average price of $307.68.

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