State of Michigan Retirement System Acquires 100 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

State of Michigan Retirement System boosted its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the medical research company’s stock after purchasing an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Bio-Rad Laboratories were worth $1,643,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIO. Strategic Financial Concepts LLC bought a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at about $3,561,000. Lecap Asset Management Ltd. bought a new position in Bio-Rad Laboratories in the fourth quarter valued at approximately $510,000. Principal Financial Group Inc. increased its position in shares of Bio-Rad Laboratories by 95.6% during the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock worth $14,836,000 after purchasing an additional 21,669 shares during the last quarter. Mawer Investment Management Ltd. increased its position in shares of Bio-Rad Laboratories by 63.0% during the 3rd quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock worth $72,900,000 after purchasing an additional 84,237 shares during the last quarter. Finally, Verition Fund Management LLC raised its stake in shares of Bio-Rad Laboratories by 193.3% during the 3rd quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock worth $1,161,000 after purchasing an additional 2,287 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $395.20.

Bio-Rad Laboratories Price Performance

Shares of BIO opened at $260.92 on Friday. The company’s 50-day moving average is $319.72 and its 200-day moving average is $330.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85. The firm has a market capitalization of $7.31 billion, a PE ratio of -4.01 and a beta of 0.98. Bio-Rad Laboratories, Inc. has a fifty-two week low of $248.22 and a fifty-two week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. Equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS 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.