Bio-Rad Laboratories, Inc. $BIO Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. has increased its stake in Bio-Rad Laboratories by 2.7%, acquiring an additional 1,042 shares, bringing its total holdings to approximately $9.74 million.
• Several research firms have adjusted their price targets and ratings for Bio-Rad; notably, Royal Bank of Canada raised its target from $387 to $409, while UBS Group lowered it from $355 to $310.
• Bio-Rad reported earnings per share of $2.61 for the last quarter, exceeding expectations, with revenue up 2.1% year-over-year at $651.60 million.

Invesco Ltd. grew its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,986 shares of the medical research company's stock after acquiring an additional 1,042 shares during the period. Invesco Ltd. owned about 0.14% of Bio-Rad Laboratories worth $9,739,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. GeoWealth Management LLC increased its stake in shares of Bio-Rad Laboratories by 342.9% during the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock worth $31,000 after purchasing an additional 72 shares in the last quarter. Curat Global LLC purchased a new stake in Bio-Rad Laboratories during the 1st quarter valued at about $34,000. Allworth Financial LP grew its stake in 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 in the last quarter. Headlands Technologies LLC grew its stake in Bio-Rad Laboratories by 64.1% during the 1st 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 in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Bio-Rad Laboratories during the 4th quarter valued at about $131,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Up 1.4%

Shares of BIO traded up $4.16 during midday trading on Friday, reaching $297.83. The stock had a trading volume of 127,546 shares, compared to its average volume of 327,027. Bio-Rad Laboratories, Inc. has a 1-year low of $211.43 and a 1-year high of $387.99. The company's fifty day simple moving average is $262.35 and its two-hundred day simple moving average is $252.04. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 25.39 and a beta of 0.90. 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 announced its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.68. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. The business had revenue of $651.60 million for the quarter, compared to analyst estimates of $614.82 million. During the same period last year, the business earned $3.11 EPS. The company's revenue was up 2.1% on a year-over-year basis. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on BIO. Wall Street Zen cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. UBS Group lowered their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Citigroup decreased their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Finally, Wells Fargo & Company raised 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 report on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $333.50.

Bio-Rad Laboratories 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.