Assenagon Asset Management S.A. Sells 2,366 Shares of Bio-Rad Laboratories, Inc. $BIO

Key Points

• Assenagon Asset Management S.A. has reduced its stake in Bio-Rad Laboratories by 53.5%, selling 2,366 shares, and now holds 2,059 shares valued at approximately $497,000.
• Several institutional investors have also adjusted their positions, with 65.24% of the stock currently owned by these investors.
• Analysts have set new price targets for Bio-Rad, with upgrades and downgrades bringing the average target price to $333.50 and a consensus rating of "Moderate Buy."

Assenagon Asset Management S.A. reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 53.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,059 shares of the medical research company's stock after selling 2,366 shares during the period. Assenagon Asset Management S.A.'s holdings in Bio-Rad Laboratories were worth $497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP bought a new position in shares of Bio-Rad Laboratories in the 1st quarter worth $29,000. Curat Global LLC bought a new position in shares of Bio-Rad Laboratories in the 1st quarter worth $34,000. Allworth Financial LP lifted its holdings in Bio-Rad Laboratories by 260.0% during the first quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after acquiring an additional 104 shares in the last quarter. Headlands Technologies LLC grew its stake in 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 acquiring an additional 139 shares during the period. Finally, Twin Tree Management LP acquired a new position in Bio-Rad Laboratories in the first quarter valued at about $87,000. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on BIO. Wells Fargo & Company boosted their target price on 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. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Zacks Research upgraded 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 raised their target price on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a report 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $333.50.

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock opened at $271.80 on Monday. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of 23.17 and a beta of 0.95. The stock's 50-day moving average is $278.05 and its 200-day moving average is $253.55. Bio-Rad Laboratories, Inc. has a one year low of $211.43 and a one year 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.

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

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.

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