BI Asset Management Fondsmaeglerselskab A S Sells 980 Shares of Bio-Rad Laboratories, Inc. $BIO

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in Bio-Rad Laboratories by 59.7%, now holding 661 shares worth approximately $161,000 following the sale of 980 shares in the first quarter.
• Several other institutional investors have adjusted their positions in Bio-Rad, with Lecap Asset Management increasing its holdings by 3.1% to 1,600 shares worth $390,000.
• Analyst ratings for Bio-Rad Laboratories vary, with consensus ratings leaning towards a "Moderate Buy" and a target price averaging $333.50.

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 59.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 661 shares of the medical research company's stock after selling 980 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Bio-Rad Laboratories were worth $161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BIO. Bank of America Corp DE increased its stake in shares of Bio-Rad Laboratories by 705.9% during the 4th quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company's stock worth $140,370,000 after purchasing an additional 374,269 shares during the last quarter. First Pacific Advisors LP grew its stake in Bio-Rad Laboratories by 136.0% in the 1st quarter. First Pacific Advisors LP now owns 372,555 shares of the medical research company's stock valued at $90,739,000 after buying an additional 214,705 shares during the last quarter. Ariel Investments LLC grew its stake in Bio-Rad Laboratories by 48.0% in the 4th quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company's stock valued at $184,138,000 after buying an additional 181,829 shares during the last quarter. GAMMA Investing LLC grew its stake in Bio-Rad Laboratories by 22,131.7% in the 1st quarter. GAMMA Investing LLC now owns 147,841 shares of the medical research company's stock valued at $36,008,000 after buying an additional 147,176 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Bio-Rad Laboratories by 17.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 877,040 shares of the medical research company's stock valued at $213,608,000 after buying an additional 130,921 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BIO. Royal Bank Of Canada upped their price target on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. UBS Group decreased their price target on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company upped their price target on shares of 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. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday. Finally, Citigroup cut their price objective on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $333.50.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock traded up $3.81 on Friday, reaching $297.48. 131,670 shares of the stock were exchanged, compared to its average volume of 327,059. The firm's 50 day moving average is $262.35 and its 200-day moving average is $252.04. 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 quick ratio of 3.67 and a current ratio of 5.12. The firm has a market cap of $8.05 billion, a PE ratio of 25.36 and a beta of 0.90.

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, beating the consensus estimate of $1.93 by $0.68. The business had revenue of $651.60 million during the quarter, compared to the consensus estimate of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. The firm's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.11 EPS. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS 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.