Amundi Increases Holdings in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Amundi increased its stake in Bio-Rad Laboratories by 16.4%, owning a total of 23,336 shares valued at approximately $5.48 million as of the latest SEC filing.
• Analysts have set new target prices for Bio-Rad, with Wells Fargo raising theirs to $265 and Royal Bank of Canada to $409, alongside a consensus rating of "Moderate Buy".
• Despite recently reporting earnings per share of $2.61, which surpassed estimates, shares of Bio-Rad Laboratories saw a 3% decline in trading.

Amundi raised its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 16.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,336 shares of the medical research company's stock after buying an additional 3,294 shares during the period. Amundi owned about 0.08% of Bio-Rad Laboratories worth $5,478,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in Bio-Rad Laboratories by 25.2% during the 1st quarter. Royal Bank of Canada now owns 30,310 shares of the medical research company's stock valued at $7,382,000 after buying an additional 6,100 shares during the last quarter. Armistice Capital LLC purchased a new stake in Bio-Rad Laboratories during the 1st quarter valued at $932,000. Retirement Planning Co of New England Inc. purchased a new stake in Bio-Rad Laboratories during the 1st quarter valued at $219,000. Quarry LP purchased a new stake in Bio-Rad Laboratories during the 1st quarter valued at $29,000. Finally, Twin Tree Management LP purchased a new stake in Bio-Rad Laboratories during the 1st quarter valued at $87,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BIO shares. Wells Fargo & Company boosted their target price on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Royal Bank Of Canada boosted their price objective on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $333.50.

Bio-Rad Laboratories Trading Down 3.0%

Shares of Bio-Rad Laboratories stock opened at $277.31 on Thursday. The company has a market capitalization of $7.50 billion, a P/E ratio of 23.64 and a beta of 0.95. 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 company has a fifty day moving average of $271.06 and a 200 day moving average of $252.02. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week high of $387.99.

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