Select Equity Group L.P. Sells 195,478 Shares of Bio-Rad Laboratories, Inc. $BIO

Key Points

• Select Equity Group L.P. has reduced its stake in Bio-Rad Laboratories by 42.4%, selling 195,478 shares in the first quarter, leaving it with 265,180 shares valued at approximately $64.6 million.
• Several institutional investors, including Bank of America and GAMMA Investing, increased their holdings significantly, with Bank of America raising its stake by 705.9% during the last quarter.
• Bio-Rad Laboratories beat analysts' earnings expectations with reported EPS of $2.61 for the last quarter, surpassing the consensus estimate of $1.93.

Select Equity Group L.P. reduced its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 42.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 265,180 shares of the medical research company's stock after selling 195,478 shares during the period. Select Equity Group L.P. owned approximately 0.95% of Bio-Rad Laboratories worth $64,587,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth about $29,000. Curat Global LLC bought a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth about $34,000. Allworth Financial LP increased its holdings in shares of Bio-Rad Laboratories by 260.0% in the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after buying an additional 104 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of Bio-Rad Laboratories by 64.1% in the 1st quarter. Headlands Technologies LLC now owns 356 shares of the medical research company's stock worth $87,000 after buying an additional 139 shares during the last quarter. Finally, Twin Tree Management LP bought a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth about $87,000. 65.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Zacks Research upgraded shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Royal Bank Of Canada boosted 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. Wells Fargo & Company boosted their target price on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Wall Street Zen downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $333.50.

Bio-Rad Laboratories Stock Down 1.5%

Shares of BIO traded down $4.31 during mid-day trading on Tuesday, hitting $286.07. The company's stock had a trading volume of 231,850 shares, compared to its average volume of 215,204. The company's 50-day moving average is $270.53 and its 200-day moving average is $251.84. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $387.99. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 24.39 and a beta of 0.95. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $651.60 million during the quarter, compared to analysts' expectations of $614.82 million. During the same quarter in the prior year, the company earned $3.11 EPS. The company's revenue was up 2.1% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal 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.