Bio-Rad Laboratories, Inc. $BIO Shares Sold by Sector Gamma AS

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% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,829 shares of the medical research company's stock after selling 3,000 shares during the quarter. Bio-Rad Laboratories accounts for 1.1% of Sector Gamma AS's holdings, 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 SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in 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 valued at $140,370,000 after purchasing an additional 374,269 shares in the last quarter. First Pacific Advisors LP boosted its position in Bio-Rad Laboratories by 136.0% in the first quarter. First Pacific Advisors LP now owns 372,555 shares of the medical research company's stock valued at $90,739,000 after buying an additional 214,705 shares during the last quarter. Ariel Investments LLC boosted its holdings in shares of Bio-Rad Laboratories by 48.0% in the 4th quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company's stock valued at $184,138,000 after acquiring an additional 181,829 shares during the last quarter. GAMMA Investing LLC grew its position in Bio-Rad Laboratories by 22,131.7% during the 1st quarter. GAMMA Investing LLC now owns 147,841 shares of the medical research company's stock worth $36,008,000 after purchasing an additional 147,176 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Bio-Rad Laboratories by 17.5% during the first quarter. Dimensional Fund Advisors LP now owns 877,040 shares of the medical research company's stock valued at $213,608,000 after acquiring an additional 130,921 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Up 0.8%

BIO stock traded up $2.28 during midday trading on Tuesday, reaching $286.93. 168,298 shares of the company were exchanged, compared to its average volume of 329,808. Bio-Rad Laboratories, Inc. has a 1-year low of $211.43 and a 1-year high of $387.99. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 24.46 and a beta of 0.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 5.12. The stock's 50-day simple moving average is $252.44 and its 200 day simple moving average is $253.61.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued 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 company had revenue of $651.60 million for the quarter, compared to analyst estimates of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BIO. Citigroup decreased their price objective on shares of 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. Wells Fargo & Company increased 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 report on Friday, August 1st. Royal Bank Of Canada lifted their price objective on Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a research report 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, UBS Group lowered their price target on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories has an average rating of "Moderate Buy" and an average target price of $333.50.

About Bio-Rad Laboratories

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.