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

Key Points

• Arnhold LLC acquired a new stake in Bio-Rad Laboratories, purchasing 34,784 shares valued at approximately $8.39 million, representing about 0.13% of the company.
• Several institutional investors significantly increased their stakes in Bio-Rad during the 2nd quarter, with Allianz Asset Management raising its position by 231.8%.
• Bio-Rad's recent quarterly earnings surpassed estimates, reporting an EPS of $2.61 against a prediction of $1.93, with revenue reaching $651.6 million.

Arnhold LLC acquired a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 34,784 shares of the medical research company's stock, valued at approximately $8,394,000. Arnhold LLC owned about 0.13% of Bio-Rad Laboratories as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BIO. Allianz Asset Management GmbH increased its position in Bio-Rad Laboratories by 231.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 54,239 shares of the medical research company's stock valued at $13,089,000 after purchasing an additional 37,893 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Bio-Rad Laboratories by 42.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,023 shares of the medical research company's stock worth $730,000 after purchasing an additional 900 shares in the last quarter. Sivik Global Healthcare LLC acquired a new stake in Bio-Rad Laboratories during the 2nd quarter valued at approximately $4,344,000. Blue Trust Inc. lifted its stake in Bio-Rad Laboratories by 5.5% during the 2nd quarter. Blue Trust Inc. now owns 1,517 shares of the medical research company's stock valued at $366,000 after acquiring an additional 79 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Bio-Rad Laboratories by 25.9% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,441 shares of the medical research company's stock valued at $348,000 after purchasing an additional 296 shares during the period. Institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BIO shares. 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 report 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 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. 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. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Bio-Rad Laboratories in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $333.50.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $310.97 on Friday. The business's 50-day simple moving average is $289.99 and its 200-day simple moving average is $258.56. The firm has a market capitalization of $8.42 billion, a P/E ratio of 26.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.12 and a quick ratio of 3.67. Bio-Rad Laboratories, Inc. has a 1-year low of $211.43 and a 1-year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 earnings per share (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 company had revenue of $651.60 million for the quarter, compared to the consensus estimate of $614.82 million. During the same period in the previous year, the business earned $3.11 EPS. Bio-Rad Laboratories's revenue for the quarter was up 2.1% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Equities analysts predict 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.

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