State of Michigan Retirement System Decreases Stock Position in Bio-Rad Laboratories, Inc. $BIO

State of Michigan Retirement System trimmed its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,500 shares of the medical research company’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in Bio-Rad Laboratories were worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in Bio-Rad Laboratories by 17.5% during the first quarter. Dimensional Fund Advisors LP now owns 877,040 shares of the medical research company’s stock worth $213,608,000 after acquiring an additional 130,921 shares during the last quarter. Ariel Investments LLC increased its stake in shares of Bio-Rad Laboratories by 29.3% during the 1st quarter. Ariel Investments LLC now owns 724,660 shares of the medical research company’s stock worth $176,498,000 after purchasing an additional 164,136 shares in the last quarter. First Pacific Advisors LP raised its position in shares of Bio-Rad Laboratories by 3.9% during the 2nd quarter. First Pacific Advisors LP now owns 386,949 shares of the medical research company’s stock worth $93,379,000 after purchasing an additional 14,394 shares during the last quarter. Parnassus Investments LLC raised its position in shares of Bio-Rad Laboratories by 2.3% during the 1st quarter. Parnassus Investments LLC now owns 318,111 shares of the medical research company’s stock worth $77,479,000 after purchasing an additional 7,244 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its stake in Bio-Rad Laboratories by 14.8% in the 1st quarter. Mawer Investment Management Ltd. now owns 294,879 shares of the medical research company’s stock valued at $71,821,000 after buying an additional 37,952 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on BIO shares. Wells Fargo & Company raised their price target on Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Citigroup increased their price objective on Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Royal Bank Of Canada boosted their target price on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Weiss Ratings upgraded shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $358.50.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $305.07 on Friday. The stock has a fifty day moving average price of $300.02 and a 200 day moving average price of $267.45. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $373.69. The firm has a market capitalization of $8.26 billion, a P/E ratio of -12.55 and a beta of 1.04. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Wednesday, October 29th. The medical research company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.04). The business had revenue of $653.00 million during the quarter, compared to analyst estimates of $651.30 million. Bio-Rad Laboratories had a positive return on equity of 4.18% and a negative net margin of 26.43%.The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $2.01 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

About Bio-Rad Laboratories

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.