Armistice Capital LLC Makes New Investment in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Armistice Capital LLC acquired 3,827 shares of Bio-Rad Laboratories, Inc. in the first quarter, valued at approximately $932,000.
• Hedge funds and institutional investors collectively own 65.24% of Bio-Rad's stock, with notable increases in stakes from firms like Bank of America and Northern Trust Corp.
• Analysts have mixed views on Bio-Rad's stock, with a consensus rating of "Moderate Buy" and a target price of $333.50, reflecting varying expectations for the company's future performance.

Armistice Capital LLC purchased a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,827 shares of the medical research company's stock, valued at approximately $932,000.

A number of other large investors have also modified their holdings of the business. Lecap Asset Management Ltd. grew its stake in shares of Bio-Rad Laboratories by 3.1% during the first quarter. Lecap Asset Management Ltd. now owns 1,600 shares of the medical research company's stock worth $390,000 after acquiring an additional 48 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Bio-Rad Laboratories by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock worth $548,000 after acquiring an additional 55 shares during the last quarter. ProShare Advisors LLC boosted its position in Bio-Rad Laboratories by 8.0% in the fourth quarter. ProShare Advisors LLC now owns 901 shares of the medical research company's stock valued at $296,000 after buying an additional 67 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Bio-Rad Laboratories by 10.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 994 shares of the medical research company's stock valued at $242,000 after buying an additional 94 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its position in Bio-Rad Laboratories by 4.4% in the first quarter. Park Avenue Securities LLC now owns 2,391 shares of the medical research company's stock valued at $582,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock traded down $2.53 during mid-day trading on Wednesday, hitting $288.18. The company had a trading volume of 202,265 shares, compared to its average volume of 222,674. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. Bio-Rad Laboratories, Inc. has a 12-month low of $211.43 and a 12-month high of $387.99. The company's fifty day moving average is $266.85 and its 200-day moving average is $251.82. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 24.57 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released 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. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The business had revenue of $651.60 million for the quarter, compared to analyst estimates of $614.82 million. During the same quarter in the prior year, the firm posted $3.11 EPS. The business's quarterly revenue was up 2.1% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on BIO shares. Zacks Research upgraded Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Wall Street Zen lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Royal Bank Of Canada upped their target price on 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, Wells Fargo & Company upped their target price on Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.