Amundi Increases Stock 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 boosted its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 16.4% during the first quarter, according to the company in its most recent disclosure with the Securities & 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 approximately 0.08% of Bio-Rad Laboratories worth $5,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of BIO. Quarry LP purchased a new stake in Bio-Rad Laboratories in the 1st quarter worth approximately $29,000. Curat Global LLC purchased a new stake in Bio-Rad Laboratories in the 1st quarter worth approximately $34,000. Allworth Financial LP boosted its position in Bio-Rad Laboratories by 260.0% in the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after purchasing an additional 104 shares in the last quarter. Headlands Technologies LLC boosted its position in Bio-Rad Laboratories by 64.1% in the 1st quarter. Headlands Technologies LLC now owns 356 shares of the medical research company's stock worth $87,000 after purchasing an additional 139 shares in the last quarter. Finally, Twin Tree Management LP purchased a new stake in Bio-Rad Laboratories in the 1st quarter worth approximately $87,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

BIO has been the topic of several recent research reports. Wells Fargo & Company upped their price objective 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 raised Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Wall Street Zen downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Royal Bank Of Canada upped their target price 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. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $333.50.

Bio-Rad Laboratories Price Performance

NYSE BIO traded up $2.00 during mid-day trading on Tuesday, hitting $282.21. The stock had a trading volume of 188,717 shares, compared to its average volume of 223,851. The firm's 50 day moving average is $273.61 and its 200 day moving average is $252.13. Bio-Rad Laboratories, Inc. has a twelve month low of $211.43 and a twelve month high of $387.99. 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 $7.64 billion, a price-to-earnings ratio of 24.06 and a beta of 0.95.

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 (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.68. The company 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 firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.11 EPS. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Bio-Rad Laboratories Company 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.