Ariel Investments LLC Increases Stake in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Ariel Investments LLC has increased its stake in Bio-Rad Laboratories by 29.3%, holding approximately $176.50 million worth of shares, which represents about 2.1% of its portfolio.
• Various institutional investors, including Bank of America and GAMMA Investing LLC, have significantly increased their holdings in Bio-Rad Laboratories, indicating strong institutional interest.
• Analysts have set a consensus price target of $333.50 for Bio-Rad, with ratings ranging from "Hold" to "Outperform," reflecting a generally positive outlook despite recent performance fluctuations.

Ariel Investments LLC grew its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 29.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 724,660 shares of the medical research company's stock after acquiring an additional 164,136 shares during the quarter. Bio-Rad Laboratories comprises 2.1% of Ariel Investments LLC's investment portfolio, making the stock its 20th biggest holding. Ariel Investments LLC owned about 2.59% of Bio-Rad Laboratories worth $176,498,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Bio-Rad Laboratories during the first quarter worth $29,000. Curat Global LLC acquired a new stake in Bio-Rad Laboratories in the first quarter worth approximately $34,000. Allworth Financial LP lifted its position in shares of Bio-Rad Laboratories by 260.0% during the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock valued at $36,000 after acquiring an additional 104 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Bio-Rad Laboratories by 64.1% in the first quarter. Headlands Technologies LLC now owns 356 shares of the medical research company's stock valued at $87,000 after purchasing an additional 139 shares in the last quarter. Finally, Twin Tree Management LP acquired a new position in shares of Bio-Rad Laboratories in the first quarter worth $87,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BIO shares. Wells Fargo & Company lifted their target price 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. Wall Street Zen cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada increased their price objective 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. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $333.50.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock traded down $6.24 during midday trading on Monday, reaching $289.19. 61,564 shares of the stock were exchanged, compared to its average volume of 323,271. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $387.99. The firm has a market cap of $7.83 billion, a PE ratio of 24.65 and a beta of 0.95. The company's fifty day moving average is $268.80 and its 200-day moving average is $251.53. 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 issued its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, topping the consensus estimate of $1.93 by $0.68. The business had revenue of $651.60 million during 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% 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. On average, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current 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.