Bio-Rad Laboratories, Inc. $BIO Shares Sold by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC significantly reduced its stake in Bio-Rad Laboratories by 95.1%, leaving it with only 4,719 shares valued at approximately $1.14 million.
• Bio-Rad Laboratories has recently seen mixed ratings from analysts, with Zacks upgrading it to a "hold" while Royal Bank of Canada set a higher price target of $409.
• The company reported $2.61 earnings per share for its latest quarter, exceeding consensus estimates, and had a net margin of 12.5% with revenue growth of 2.1% year-over-year.

DAVENPORT & Co LLC lowered its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 95.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,719 shares of the medical research company's stock after selling 91,886 shares during the quarter. DAVENPORT & Co LLC's holdings in Bio-Rad Laboratories were worth $1,139,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Bio-Rad Laboratories by 0.5% in the first quarter. Principal Financial Group Inc. now owns 44,343 shares of the medical research company's stock worth $10,800,000 after purchasing an additional 236 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Bio-Rad Laboratories by 14.6% in the first quarter. Crossmark Global Holdings Inc. now owns 966 shares of the medical research company's stock worth $235,000 after purchasing an additional 123 shares during the period. Amundi raised its position in Bio-Rad Laboratories by 16.4% in the first quarter. Amundi now owns 23,336 shares of the medical research company's stock worth $5,478,000 after acquiring an additional 3,294 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Bio-Rad Laboratories in the first quarter worth about $816,000. Finally, New York State Teachers Retirement System raised its position in Bio-Rad Laboratories by 1.2% in the first quarter. New York State Teachers Retirement System now owns 17,500 shares of the medical research company's stock worth $4,262,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BIO shares. Zacks Research upgraded shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Wall Street Zen cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Wells Fargo & Company boosted their price target on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Weiss Ratings reiterated a "sell (d)" rating on shares of Bio-Rad Laboratories in a research report on Saturday, September 27th. Finally, Royal Bank Of Canada boosted their price target on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bio-Rad Laboratories has a consensus rating of "Hold" and an average price target of $333.50.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $298.30 on Friday. The stock's 50-day moving average price is $286.07 and its two-hundred day moving average price is $256.37. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. The company has a market cap of $8.07 billion, a PE ratio of 25.43 and a beta of 0.97. 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 issued its earnings results 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. The company had revenue of $651.60 million for the quarter, compared to the consensus estimate of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.11 EPS. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, 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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