XTX Topco Ltd Increases Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Key Points

• XTX Topco Ltd significantly increased its stake in Bio-Rad Laboratories by 134.3% during the first quarter, owning 4,567 shares valued at over $1.1 million.
• Bio-Rad Laboratories reported earnings of $2.61 per share, exceeding analysts' expectations of $1.93, with a net margin of 12.50% and a revenue increase of 2.1% year-over-year.
• Several research firms have updated their ratings and price targets for Bio-Rad, with the average target price now at $333.50 and a consensus rating of "Moderate Buy."

XTX Topco Ltd grew its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 134.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,567 shares of the medical research company's stock after acquiring an additional 2,618 shares during the period. XTX Topco Ltd's holdings in Bio-Rad Laboratories were worth $1,112,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lecap Asset Management Ltd. grew its stake in Bio-Rad Laboratories by 3.1% in the 1st quarter. Lecap Asset Management Ltd. now owns 1,600 shares of the medical research company's stock worth $390,000 after acquiring an additional 48 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Bio-Rad Laboratories by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock worth $548,000 after purchasing an additional 55 shares during the period. ProShare Advisors LLC lifted its position in shares of Bio-Rad Laboratories by 8.0% in the 4th quarter. ProShare Advisors LLC now owns 901 shares of the medical research company's stock worth $296,000 after purchasing an additional 67 shares during the period. GeoWealth Management LLC lifted its position in shares of Bio-Rad Laboratories by 342.9% in the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock worth $31,000 after purchasing an additional 72 shares during the period. Finally, Commerce Bank lifted its position in shares of Bio-Rad Laboratories by 11.7% in the 4th quarter. Commerce Bank now owns 801 shares of the medical research company's stock worth $263,000 after purchasing an additional 84 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Price Performance

NYSE BIO traded down $8.70 during trading hours on Monday, reaching $275.90. The company's stock had a trading volume of 530,933 shares, compared to its average volume of 329,284. 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, Inc. has a 1-year low of $211.43 and a 1-year high of $387.99. The company's 50-day moving average is $241.19 and its two-hundred day moving average is $259.81. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 23.52 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.68. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%. The business had revenue of $651.60 million during the quarter, compared to analysts' expectations of $614.82 million. During the same period in the previous year, the business earned $3.11 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BIO. UBS Group decreased their target price 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. Wall Street Zen raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Saturday. Royal Bank Of Canada raised their price target on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a report on Friday. Citigroup reduced their target price on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company lifted their price target on Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a research report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.