Allianz Asset Management GmbH Grows Stake in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Allianz Asset Management GmbH increased its stake in Bio-Rad Laboratories by 231.8% during the second quarter, bringing its total holdings to 54,239 shares valued at approximately $13.1 million.
• Multiple institutional investors, including First Pacific Advisors LP and Goldman Sachs Group Inc., have significantly increased their positions in Bio-Rad Laboratories, with hedge funds owning 65.24% of the company’s stock.
• Bio-Rad’s earnings report showed an EPS of $2.61 for the last quarter, surpassing analyst expectations of $1.93, with a revenue of $651.6 million, up 2.1% year-over-year.

Allianz Asset Management GmbH increased its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 231.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,239 shares of the medical research company's stock after purchasing an additional 37,893 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.20% of Bio-Rad Laboratories worth $13,089,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BIO. First Pacific Advisors LP grew its position in shares of Bio-Rad Laboratories by 136.0% during the first quarter. First Pacific Advisors LP now owns 372,555 shares of the medical research company's stock worth $90,739,000 after purchasing an additional 214,705 shares in the last quarter. Ariel Investments LLC grew 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 grew its position in shares of Bio-Rad Laboratories by 17.5% during the first quarter. Dimensional Fund Advisors LP now owns 877,040 shares of the medical research company's stock worth $213,608,000 after purchasing an additional 130,921 shares in the last quarter. Mawer Investment Management Ltd. grew its position in shares of Bio-Rad Laboratories by 14.8% during 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 in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Bio-Rad Laboratories by 45.6% during the first quarter. Goldman Sachs Group Inc. now owns 105,006 shares of the medical research company's stock worth $25,575,000 after purchasing an additional 32,874 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings reiterated a "sell (d+)" rating on shares of Bio-Rad Laboratories in a research report on Tuesday, October 14th. Royal Bank Of Canada lifted their price objective on 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. Wells Fargo & Company lifted their price objective on 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. Finally, Zacks Research raised Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $333.50.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $321.34 on Tuesday. The company has a market cap of $8.70 billion, a price-to-earnings ratio of 27.39 and a beta of 0.97. 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 stock's 50 day simple moving average is $291.13 and its two-hundred day simple moving average is $259.49. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.68. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.11 EPS. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate 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.

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