945 Shares in Bio-Rad Laboratories, Inc. $BIO Acquired by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC acquired 945 shares of Bio-Rad Laboratories for approximately $238,000 in the second quarter, highlighting institutional interest in the company.
• Bio-Rad's stock received mixed ratings from analysts; Weiss Ratings maintained a "sell" rating, while Wells Fargo raised their price target from $245 to $265.
• In the latest quarter, Bio-Rad reported an earnings per share (EPS) of $2.61, beating analysts' expectations, and had a revenue of $651.60 million, indicating a 2.1% year-over-year increase.

Wealth Enhancement Advisory Services LLC purchased a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 945 shares of the medical research company's stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Lecap Asset Management Ltd. grew its holdings in Bio-Rad Laboratories by 3.1% during the first quarter. Lecap Asset Management Ltd. now owns 1,600 shares of the medical research company's stock worth $390,000 after buying an additional 48 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Bio-Rad Laboratories by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock valued at $548,000 after purchasing an additional 55 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Bio-Rad Laboratories by 10.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 994 shares of the medical research company's stock valued at $242,000 after purchasing an additional 94 shares during the period. Park Avenue Securities LLC grew its stake in Bio-Rad Laboratories by 4.4% in the 1st quarter. Park Avenue Securities LLC now owns 2,391 shares of the medical research company's stock valued at $582,000 after purchasing an additional 100 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in Bio-Rad Laboratories by 1.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the medical research company's stock valued at $1,315,000 after purchasing an additional 100 shares during the period. 65.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

BIO has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Bio-Rad Laboratories in a research report on Saturday, September 27th. Wall Street Zen lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Wells Fargo & Company raised their price target on Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Zacks Research upgraded Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, Royal Bank Of Canada raised their target price on Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Three research 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 MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $333.50.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $300.64 on Friday. The stock has a 50-day simple moving average of $285.80 and a two-hundred day simple moving average of $256.01. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $387.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 5.12. The firm has a market capitalization of $8.14 billion, a PE ratio of 25.63 and a beta of 0.97.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data 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. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The business had revenue of $651.60 million for the quarter, compared to the consensus estimate of $614.82 million. During the same period in the previous year, the business earned $3.11 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Bio-Rad Laboratories Profile

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.

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