Bio-Rad Laboratories, Inc. $BIO Shares Acquired by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in Bio-Rad Laboratories by 64.9% during the first quarter, owning a total of 34,629 shares valued at approximately $8.43 million.
• Bio-Rad Laboratories reported earnings of $2.61 per share for the last quarter, significantly exceeding analysts' expectations of $1.93, with revenues totaling $651.60 million.
• As of now, Bio-Rad Laboratories has a consensus rating of "Moderate Buy" with a consensus price target of $333.50 from multiple analysts.

Citigroup Inc. grew its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 64.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,629 shares of the medical research company's stock after acquiring an additional 13,635 shares during the period. Citigroup Inc. owned about 0.12% of Bio-Rad Laboratories worth $8,434,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of Bio-Rad Laboratories by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 44,343 shares of the medical research company's stock valued at $10,800,000 after acquiring an additional 236 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Bio-Rad Laboratories by 14.6% during the first quarter. Crossmark Global Holdings Inc. now owns 966 shares of the medical research company's stock worth $235,000 after buying an additional 123 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Bio-Rad Laboratories by 1.2% during 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 buying an additional 200 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in Bio-Rad Laboratories by 4.6% during the first quarter. Asset Management One Co. Ltd. now owns 7,182 shares of the medical research company's stock worth $1,749,000 after buying an additional 315 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Bio-Rad Laboratories by 12.5% during the first quarter. Cetera Investment Advisers now owns 1,932 shares of the medical research company's stock worth $471,000 after buying an additional 215 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

NYSE:BIO traded down $2.62 during trading hours on Thursday, reaching $285.54. 29,104 shares of the company were exchanged, compared to its average volume of 327,312. 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 stock's 50-day moving average is $254.72 and its 200-day moving average is $254.08. The firm has a market cap of $7.73 billion, a PE ratio of 24.34 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a twelve month low of $211.43 and a twelve month 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 for the quarter, topping analysts' consensus estimates of $1.93 by $0.68. The company had revenue of $651.60 million during the quarter, compared to analysts' expectations of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. 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. Wells Fargo & Company increased 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 report on Friday, August 1st. Wall Street Zen raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. 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. Finally, Royal Bank Of Canada increased 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, August 1st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently 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.