Select Equity Group L.P. Lowers Stock Position in 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 position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 42.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,180 shares of the medical research company's stock after selling 195,478 shares during the quarter. Select Equity Group L.P. owned 0.95% of Bio-Rad Laboratories worth $64,587,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BIO. Ameriprise Financial Inc. boosted its stake in shares of Bio-Rad Laboratories by 1.7% during the 4th quarter. Ameriprise Financial Inc. now owns 34,182 shares of the medical research company's stock worth $11,229,000 after acquiring an additional 571 shares in the last quarter. Bank of America Corp DE boosted 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 acquiring an additional 374,269 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Bio-Rad Laboratories by 648.0% during the 4th quarter. Captrust Financial Advisors now owns 5,730 shares of the medical research company's stock worth $1,882,000 after acquiring an additional 4,964 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Bio-Rad Laboratories by 2.8% during the 4th quarter. Deutsche Bank AG now owns 37,601 shares of the medical research company's stock worth $12,352,000 after acquiring an additional 1,027 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Bio-Rad Laboratories by 46.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 24,625 shares of the medical research company's stock worth $8,090,000 after acquiring an additional 7,837 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Trading Down 1.9%

BIO stock traded down $5.54 during trading on Friday, reaching $280.36. 98,394 shares of the stock were exchanged, compared to its average volume of 320,778. 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 business has a 50 day moving average price of $271.74 and a 200-day moving average price of $252.06. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 23.90 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, topping 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 company had revenue of $651.60 million for the quarter, compared to the consensus estimate of $614.82 million. During the same period in the previous year, the firm earned $3.11 earnings per share. Bio-Rad Laboratories's quarterly 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, research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Analyst Ratings Changes

BIO has been the subject of a number of research analyst reports. 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. Royal Bank Of Canada raised 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. 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 note on Friday, August 1st. Finally, Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $333.50.

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.