Bio-Rad Laboratories, Inc. $BIO Shares Sold by Ethic Inc.

Ethic Inc. lowered its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 29.9% during the second quarter, Holdings Channel reports. The firm owned 2,569 shares of the medical research company’s stock after selling 1,096 shares during the period. Ethic Inc.’s holdings in Bio-Rad Laboratories were worth $627,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. First Pacific Advisors LP raised its stake in Bio-Rad Laboratories by 136.0% during the 1st quarter. First Pacific Advisors LP now owns 372,555 shares of the medical research company’s stock worth $90,739,000 after acquiring an additional 214,705 shares in the last quarter. Ariel Investments LLC increased its position in shares of Bio-Rad Laboratories by 29.3% during the first 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. Dimensional Fund Advisors LP lifted its holdings in shares of Bio-Rad Laboratories by 17.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 877,040 shares of the medical research company’s stock valued at $213,608,000 after purchasing an additional 130,921 shares during the last quarter. Mawer Investment Management Ltd. boosted its position in shares of 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 purchasing an additional 37,952 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in Bio-Rad Laboratories by 231.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 54,239 shares of the medical research company’s stock worth $13,089,000 after buying an additional 37,893 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Down 0.8%

BIO opened at $337.05 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.12 and a quick ratio of 3.67. The business has a 50 day simple moving average of $296.41 and a 200-day simple moving average of $263.10. The stock has a market capitalization of $9.12 billion, a P/E ratio of 28.73 and a beta of 0.97. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, beating the consensus estimate of $1.93 by $0.68. The business had revenue of $651.60 million during the quarter, compared to analysts’ expectations of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $3.11 EPS. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Wells Fargo & Company increased their price target on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Royal Bank Of Canada raised their price target on Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bio-Rad Laboratories in a research report on Tuesday, October 14th. Finally, Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Bio-Rad Laboratories presently has an average rating of “Hold” and an average target price of $333.50.

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.