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

A number of other hedge funds also recently modified their holdings of the business. Lecap Asset Management Ltd. lifted its holdings in shares of Bio-Rad Laboratories by 3.1% in the first quarter. Lecap Asset Management Ltd. now owns 1,600 shares of the medical research company's stock valued at $390,000 after purchasing an additional 48 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Bio-Rad Laboratories by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock valued at $548,000 after acquiring an additional 55 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Bio-Rad Laboratories by 8.0% during the 4th quarter. ProShare Advisors LLC now owns 901 shares of the medical research company's stock valued at $296,000 after acquiring an additional 67 shares in the last quarter. GeoWealth Management LLC grew its holdings in shares of Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after acquiring an additional 72 shares in the last quarter. Finally, Commerce Bank grew its holdings in shares of Bio-Rad Laboratories by 11.7% during the 4th quarter. Commerce Bank now owns 801 shares of the medical research company's stock valued at $263,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Performance

Shares of NYSE BIO traded down $8.77 during trading hours on Wednesday, hitting $263.41. 207,320 shares of the stock were exchanged, compared to its average volume of 338,454. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.12 and a quick ratio of 3.67. The company's 50 day moving average is $243.06 and its 200 day moving average is $259.43. The firm has a market capitalization of $7.17 billion, a P/E ratio of 22.46 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a one year low of $211.43 and a one year high of $387.99.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.68. The business had revenue of $651.60 million during the quarter, compared to the consensus estimate of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. Bio-Rad Laboratories's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.11 EPS. On average, research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Analyst Upgrades and Downgrades

BIO has been the topic of several research analyst reports. UBS Group lowered their price target on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Citigroup lowered their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Saturday. 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 report on Friday, August 1st. Finally, 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 report on Friday, August 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Bio-Rad Laboratories currently has an average rating of "Moderate Buy" and an average target price of $333.50.

Bio-Rad Laboratories 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.