Bio-Rad Laboratories, Inc. $BIO Shares Purchased by Hound Partners LLC

Key Points

• Hound Partners increased its Bio-Rad Laboratories position by 125.9% in the first quarter, owning 97,724 shares valued at approximately $27.2 million, or 0.37% of the company.
• Institutional ownership remains substantial at 65.24%, with several major investors—including Massachusetts Financial Services, UBS Asset Management, and Assenagon Asset Management—also expanding their positions.
• Analyst sentiment is mixed but leans negative, with an average rating of “Reduce” and a consensus price target of $303.33. Bio-Rad’s latest quarterly EPS of $1.89 missed estimates, although revenue of $592.1 million slightly exceeded expectations.

Hound Partners LLC boosted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 125.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,724 shares of the medical research company's stock after purchasing an additional 54,456 shares during the period. Bio-Rad Laboratories makes up 3.4% of Hound Partners LLC's holdings, making the stock its 9th biggest holding. Hound Partners LLC owned 0.37% of Bio-Rad Laboratories worth $27,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in shares of Bio-Rad Laboratories by 4,534.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company's stock valued at $120,956,000 after buying an additional 390,593 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Bio-Rad Laboratories by 2,271.3% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 397,171 shares of the medical research company's stock worth $111,363,000 after acquiring an additional 380,422 shares during the period. Boston Partners purchased a new position in Bio-Rad Laboratories in the fourth quarter worth approximately $75,037,000. Assenagon Asset Management S.A. increased its stake in Bio-Rad Laboratories by 6,586.3% during the first quarter. Assenagon Asset Management S.A. now owns 147,834 shares of the medical research company's stock worth $41,209,000 after acquiring an additional 145,623 shares during the last quarter. Finally, Norges Bank purchased a new stake in Bio-Rad Laboratories in the fourth quarter valued at $34,600,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BIO. Weiss Ratings cut Bio-Rad Laboratories from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, May 6th. Royal Bank Of Canada assumed coverage on shares of Bio-Rad Laboratories in a research note on Friday, May 15th. They set an "outperform" rating and a $320.00 target price for the company. Citigroup downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and reduced their price target for the company from $375.00 to $300.00 in a research note on Tuesday, April 7th. Wells Fargo & Company decreased their price objective on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an "equal weight" rating on the stock in a report on Friday, May 1st. Finally, Zacks Research cut shares of Bio-Rad Laboratories from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $303.33.

Bio-Rad Laboratories Price Performance

BIO stock opened at $313.78 on Monday. The business's fifty day moving average price is $295.31 and its 200 day moving average price is $287.51. Bio-Rad Laboratories, Inc. has a 12-month low of $236.73 and a 12-month high of $343.12. The company has a market capitalization of $8.40 billion, a PE ratio of 51.69 and a beta of 1.08. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.08). The firm had revenue of $592.10 million during the quarter, compared to analyst estimates of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The business's revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 earnings per share. On average, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.

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