AlphaQuest LLC Invests $243,000 in Bio-Rad Laboratories, Inc. $BIO

Key Points

• AlphaQuest LLC has made a new investment in Bio-Rad Laboratories, Inc., purchasing 996 shares valued at approximately $243,000.
• Following this new investment, institutional investors and hedge funds now own 65.24% of Bio-Rad's stock, indicating strong institutional interest.
• Bio-Rad reported an earnings per share of $2.61 for the last quarter, comfortably surpassing the consensus estimate of $1.93.

AlphaQuest LLC purchased a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 996 shares of the medical research company's stock, valued at approximately $243,000.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Bio-Rad Laboratories by 0.5% during the first quarter. Principal Financial Group Inc. now owns 44,343 shares of the medical research company's stock worth $10,800,000 after purchasing an additional 236 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Bio-Rad Laboratories by 14.6% during the first quarter. Crossmark Global Holdings Inc. now owns 966 shares of the medical research company's stock worth $235,000 after purchasing an additional 123 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Bio-Rad Laboratories by 1.2% during the first quarter. New York State Teachers Retirement System now owns 17,500 shares of the medical research company's stock worth $4,262,000 after purchasing an additional 200 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Bio-Rad Laboratories by 4.6% during the first quarter. Asset Management One Co. Ltd. now owns 7,182 shares of the medical research company's stock worth $1,749,000 after buying an additional 315 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Bio-Rad Laboratories by 12.5% during the first quarter. Cetera Investment Advisers now owns 1,932 shares of the medical research company's stock worth $471,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Performance

Shares of BIO traded down $6.64 during mid-day trading on Tuesday, reaching $291.24. 215,808 shares of the company's stock were exchanged, compared to its average volume of 326,811. 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 has a market capitalization of $7.88 billion, a PE ratio of 24.83 and a beta of 0.95. The business's fifty day simple moving average is $264.85 and its 200-day simple moving average is $251.29. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.68. The business had revenue of $651.60 million for the quarter, compared to analyst estimates of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BIO has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Royal Bank Of Canada upped their target price 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. Wells Fargo & Company upped their target price 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. Finally, Zacks Research upgraded shares of 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 and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.