Sector Gamma AS Trims Holdings in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Sector Gamma AS has decreased its holdings in Bio-Rad Laboratories, Inc. by 17.8%, now owning 13,829 shares valued at approximately $3.4 million.
• Recent stock performance includes a quarterly earnings report beating expectations with an EPS of $2.61 and revenue of $651.6 million, reflecting a 2.1% revenue increase from the previous year.
• Analysts have mixed ratings on the stock, with four assigning a buy rating and a consensus target price of $333.50, contrasting with varied price targets from different firms.

Sector Gamma AS lowered its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,829 shares of the medical research company's stock after selling 3,000 shares during the period. Bio-Rad Laboratories accounts for 1.1% of Sector Gamma AS's investment portfolio, making the stock its 26th biggest holding. Sector Gamma AS's holdings in Bio-Rad Laboratories were worth $3,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. boosted its position 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 acquiring an additional 48 shares during the period. State of Alaska Department of Revenue boosted its position 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 during the last quarter. ProShare Advisors LLC boosted its position 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 during the last quarter. GeoWealth Management LLC boosted its position 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 during the last quarter. Finally, Commerce Bank boosted its position 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 during the last quarter. Institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

BIO has been the subject of a number of research analyst reports. 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, August 1st. Citigroup dropped their price target on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Royal Bank Of Canada increased their target price on Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, UBS Group reduced their target price on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $333.50.

Bio-Rad Laboratories Trading Down 0.2%

BIO stock traded down $0.46 during midday trading on Wednesday, hitting $287.91. The company had a trading volume of 129,060 shares, compared to its average volume of 311,819. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $387.99. The stock's 50 day moving average price is $254.72 and its 200 day moving average price is $254.08. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 24.54 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data 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. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The firm had revenue of $651.60 million during the quarter, compared to the consensus estimate of $614.82 million. During the same quarter in the previous year, the company posted $3.11 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

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.