Bio-Rad Laboratories, Inc. (BIO) Holdings Lessened by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan lessened its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 24.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,080 shares of the medical research company’s stock after selling 1,960 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Bio-Rad Laboratories were worth $1,351,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BIO. American Century Companies Inc. purchased a new position in shares of Bio-Rad Laboratories during the third quarter valued at approximately $125,820,000. FMR LLC boosted its position in shares of Bio-Rad Laboratories by 237.4% during the second quarter. FMR LLC now owns 711,313 shares of the medical research company’s stock valued at $160,978,000 after buying an additional 500,513 shares during the period. Royal Bank of Canada boosted its position in shares of Bio-Rad Laboratories by 101.2% during the second quarter. Royal Bank of Canada now owns 3,324 shares of the medical research company’s stock valued at $752,000 after buying an additional 281,264 shares during the period. Wells Fargo & Company MN boosted its position in shares of Bio-Rad Laboratories by 93.1% during the second quarter. Wells Fargo & Company MN now owns 523,876 shares of the medical research company’s stock valued at $118,557,000 after buying an additional 252,643 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC boosted its position in shares of Bio-Rad Laboratories by 217.6% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 318,942 shares of the medical research company’s stock valued at $72,180,000 after buying an additional 218,512 shares during the period. Institutional investors and hedge funds own 64.27% of the company’s stock.

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Several analysts have recently weighed in on the stock. TheStreet raised shares of Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research note on Monday, November 13th. Zacks Investment Research raised shares of Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $255.00 price target on shares of Bio-Rad Laboratories in a research note on Monday, September 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $260.00.

In related news, EVP Giovanni Magni sold 2,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $253.01, for a total value of $607,224.00. Following the completion of the transaction, the executive vice president now owns 9,251 shares of the company’s stock, valued at $2,340,595.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.29% of the company’s stock.

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) opened at $255.49 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.77 and a current ratio of 4.06. Bio-Rad Laboratories, Inc. has a 12 month low of $169.18 and a 12 month high of $268.40. The firm has a market cap of $7,571.96, a P/E ratio of 81.11, a PEG ratio of 3.86 and a beta of 0.88.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, November 2nd. The medical research company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.37. Bio-Rad Laboratories had a net margin of 1.15% and a return on equity of 3.44%. The firm had revenue of $535.00 million during the quarter, compared to the consensus estimate of $507.99 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 2.65 EPS for the current fiscal year.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.

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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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