Teachers Retirement System of The State of Kentucky grew its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,420 shares of the medical research company’s stock after purchasing an additional 130 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.14% of Bio-Rad Laboratories worth $18,701,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton bought a new position in Bio-Rad Laboratories during the second quarter worth $27,000. IFP Advisors Inc increased its position in Bio-Rad Laboratories by 44.2% during the second quarter. IFP Advisors Inc now owns 62 shares of the medical research company’s stock worth $27,000 after acquiring an additional 19 shares during the period. Harbor Investment Advisory LLC bought a new position in Bio-Rad Laboratories during the first quarter worth $32,000. Creative Financial Designs Inc. ADV bought a new position in Bio-Rad Laboratories during the second quarter worth $39,000. Finally, RMR Wealth Builders bought a new stake in Bio-Rad Laboratories in the 2nd quarter valued at $45,000. 65.23% of the stock is currently owned by institutional investors.
BIO has been the topic of several analyst reports. Wells Fargo & Company reissued a “buy” rating and issued a $590.00 price target on shares of Bio-Rad Laboratories in a report on Thursday, September 3rd. Jefferies Financial Group reissued a “market perform” rating and issued a $666.00 price target on shares of Bio-Rad Laboratories in a report on Thursday, September 3rd. Finally, Citigroup boosted their price target on shares of Bio-Rad Laboratories from $525.00 to $625.00 and gave the company a “buy” rating in a report on Friday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Bio-Rad Laboratories currently has a consensus rating of “Buy” and a consensus target price of $577.75.
Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, July 30th. The medical research company reported $1.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.39. Bio-Rad Laboratories had a net margin of 84.89% and a return on equity of 3.66%. The company had revenue of $536.88 million for the quarter, compared to the consensus estimate of $526.80 million. On average, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 7.9 EPS for the current fiscal year.
In related news, EVP Giovanni Magni sold 2,382 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $518.81, for a total transaction of $1,235,805.42. Following the transaction, the executive vice president now owns 12,435 shares in the company, valued at approximately $6,451,402.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 27.50% of the stock is owned by corporate insiders.
Bio-Rad Laboratories Profile
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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