Retirement Systems of Alabama Has $7.78 Million Position in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Retirement Systems of Alabama boosted its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 416.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,260 shares of the medical research company's stock after purchasing an additional 18,760 shares during the quarter. Retirement Systems of Alabama owned about 0.08% of Bio-Rad Laboratories worth $7,782,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp bought a new stake in shares of Bio-Rad Laboratories in the second quarter valued at approximately $180,040,000. First Eagle Investment Management LLC raised its holdings 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 valued at $173,773,000 after acquiring an additional 634,311 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at $83,681,000. Dimensional Fund Advisors LP grew its holdings in shares of Bio-Rad Laboratories by 64.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company's stock worth $135,081,000 after purchasing an additional 193,700 shares in the last quarter. Finally, Select Equity Group L.P. raised its stake in Bio-Rad Laboratories by 26.2% in the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company's stock valued at $177,391,000 after purchasing an additional 134,856 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock traded down $13.91 during midday trading on Wednesday, hitting $323.94. 171,899 shares of the company traded hands, compared to its average volume of 241,148. The firm's fifty day moving average price is $341.06 and its 200-day moving average price is $322.09. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of -11.85 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 12 month low of $262.12 and a 12 month high of $387.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.85. The firm had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $2.33 earnings per share. As a group, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BIO. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an "equal weight" rating and a $340.00 target price on the stock. StockNews.com raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their price objective on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Finally, Citigroup raised their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target of $394.20.

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.