Acadian Asset Management LLC Boosts Stock Position in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Acadian Asset Management LLC increased its stake in Bio-Rad Laboratories by 79.6%, acquiring 32,534 additional shares, bringing its total holdings to 73,431 shares worth approximately $17.88 million.
• Bio-Rad's shares received recent upgrades, including a price target increase from $387 to $409 by Royal Bank Of Canada, indicating a positive outlook among analysts.
• Bio-Rad Laboratories achieved a quarterly revenue of $651.6 million, surpassing analyst estimates, and reported earnings per share of $2.61, exceeding forecasts by $0.68.

Acadian Asset Management LLC raised its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 79.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,431 shares of the medical research company's stock after purchasing an additional 32,534 shares during the quarter. Acadian Asset Management LLC owned 0.27% of Bio-Rad Laboratories worth $17,878,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Bio-Rad Laboratories by 17.5% in the first 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. Ariel Investments LLC boosted its stake in shares of Bio-Rad Laboratories by 29.3% in the 1st quarter. Ariel Investments LLC now owns 724,660 shares of the medical research company's stock worth $176,498,000 after buying an additional 164,136 shares during the last quarter. First Pacific Advisors LP grew its holdings in shares of Bio-Rad Laboratories by 136.0% in the first quarter. First Pacific Advisors LP now owns 372,555 shares of the medical research company's stock valued at $90,739,000 after acquiring an additional 214,705 shares in the last quarter. Parnassus Investments LLC increased its position in shares of Bio-Rad Laboratories by 2.3% during the first quarter. Parnassus Investments LLC now owns 318,111 shares of the medical research company's stock valued at $77,479,000 after acquiring an additional 7,244 shares during the last quarter. Finally, Mawer Investment Management Ltd. boosted its position in Bio-Rad Laboratories by 14.8% in the first quarter. Mawer Investment Management Ltd. now owns 294,879 shares of the medical research company's stock worth $71,821,000 after purchasing an additional 37,952 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted 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 report on Friday, August 1st. Royal Bank Of Canada raised their price target on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. 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 equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $333.50.

Bio-Rad Laboratories Trading Down 0.8%

BIO stock traded down $2.21 during trading on Wednesday, hitting $280.05. 89,713 shares of the company traded hands, compared to its average volume of 318,869. The firm has a market capitalization of $7.58 billion, a PE ratio of 23.87 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99. The company has a 50-day moving average of $273.61 and a 200-day moving average of $252.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 5.12.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $614.82 million. During the same quarter in the prior year, the company posted $3.11 EPS. Bio-Rad Laboratories's quarterly revenue was up 2.1% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal 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.