Bio-Rad Laboratories, Inc. (NYSE:BIO) Stake Raised by QVIDTVM Management LLC

Key Points

• QVIDTVM Management LLC increased its stake in Bio-Rad Laboratories by 6.1% during the first quarter, now holding 126,200 shares, which comprise 27.2% of its portfolio.
• Bio-Rad Laboratories reported quarterly earnings of $2.61 EPS, surpassing analyst expectations of $1.93, with revenue growth of 2.1% year-over-year.
• Several institutions have shown interest, with Citigroup Inc. boosting their position by 64.9%, while CenterBook Partners LP increased theirs by 125.5% in the same period.

QVIDTVM Management LLC lifted its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 6.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,200 shares of the medical research company's stock after purchasing an additional 7,253 shares during the quarter. Bio-Rad Laboratories accounts for 27.2% of QVIDTVM Management LLC's holdings, making the stock its 2nd largest position. QVIDTVM Management LLC owned 0.45% of Bio-Rad Laboratories worth $30,737,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Bio-Rad Laboratories by 14.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 746,119 shares of the medical research company's stock worth $245,106,000 after purchasing an additional 91,690 shares during the period. Earnest Partners LLC increased its stake in Bio-Rad Laboratories by 2.1% in the fourth quarter. Earnest Partners LLC now owns 618,049 shares of the medical research company's stock valued at $203,035,000 after purchasing an additional 12,500 shares in the last quarter. Ariel Investments LLC increased its stake in Bio-Rad Laboratories by 48.0% in the fourth quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company's stock valued at $184,138,000 after purchasing an additional 181,829 shares in the last quarter. Bank of America Corp DE increased its position in shares of Bio-Rad Laboratories by 705.9% during the fourth 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. Finally, First Pacific Advisors LP boosted its holdings in Bio-Rad Laboratories by 136.0% during the first quarter. First Pacific Advisors LP now owns 372,555 shares of the medical research company's stock worth $90,739,000 after purchasing an additional 214,705 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BIO. 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. UBS Group reduced 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 report on Friday, May 2nd. Wells Fargo & Company raised their target price 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. Wall Street Zen upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Citigroup cut their target price on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Bio-Rad Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $333.50.

Bio-Rad Laboratories Trading Down 0.0%

Shares of BIO traded down $0.08 during mid-day trading on Friday, reaching $287.13. The stock had a trading volume of 62,038 shares, compared to its average volume of 331,765. 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 firm has a market cap of $7.77 billion, a price-to-earnings ratio of 24.48 and a beta of 0.90. The business's fifty day moving average is $249.96 and its 200 day moving average is $256.13. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.68. The firm had revenue of $651.60 million for 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 was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.11 earnings per share. On average, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

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.