Bio-Rad Laboratories, Inc. (NYSE:BIO) Position Reduced by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,104 shares of the medical research company’s stock after selling 1,835 shares during the quarter. California Public Employees Retirement System owned approximately 0.57% of Bio-Rad Laboratories worth $109,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Bio-Rad Laboratories during the 2nd quarter valued at $58,000. First Mercantile Trust Co. bought a new position in Bio-Rad Laboratories during the 1st quarter valued at $57,000. CSat Investment Advisory L.P. boosted its stake in Bio-Rad Laboratories by 45.2% during the 1st quarter. CSat Investment Advisory L.P. now owns 122 shares of the medical research company’s stock valued at $70,000 after acquiring an additional 38 shares during the last quarter. Sandy Spring Bank bought a new position in Bio-Rad Laboratories during the 2nd quarter valued at $97,000. Finally, Eaton Vance Management bought a new position in shares of Bio-Rad Laboratories in the 1st quarter worth about $109,000. Hedge funds and other institutional investors own 63.14% of the company’s stock.

In related news, EVP Michael Crowley sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $754.93, for a total value of $2,264,790.00. Following the completion of the transaction, the executive vice president now owns 6,669 shares of the company’s stock, valued at approximately $5,034,628.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy S. Ernst sold 327 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $760.26, for a total transaction of $248,605.02. The disclosure for this sale can be found here. Insiders have sold 6,497 shares of company stock valued at $4,939,591 over the last 90 days. 27.67% of the stock is currently owned by insiders.

Bio-Rad Laboratories stock opened at $708.84 on Thursday. The stock has a market cap of $21.10 billion, a price-to-earnings ratio of 5.28 and a beta of 0.85. Bio-Rad Laboratories, Inc. has a 52 week low of $507.22 and a 52 week high of $832.70. The company’s 50-day moving average price is $775.41 and its two-hundred day moving average price is $679.65.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Wednesday, July 28th. The medical research company reported $3.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.88. The firm had revenue of $715.93 million during the quarter, compared to analysts’ expectations of $610.40 million. Bio-Rad Laboratories had a net margin of 140.48% and a return on equity of 4.65%. On average, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 14.2 earnings per share for the current year.

BIO has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Bio-Rad Laboratories from a “strong-buy” rating to a “hold” rating and set a $791.00 price target on the stock. in a research report on Wednesday, September 29th. Wells Fargo & Company lifted their price objective on shares of Bio-Rad Laboratories from $735.00 to $930.00 and gave the company an “overweight” rating in a research report on Friday, July 30th.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc engages in the development and production of specialty chemicals used in biochemical, pharmaceutical, and other life science research applications. It operates through the Life Sciences and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments.

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

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