Bio-Rad Laboratories, Inc. $BIO Stock Holdings Cut by Candriam S.C.A.

Key Points

• Candriam S.C.A. has reduced its stake in Bio-Rad Laboratories, Inc. by 60% in the first quarter, now holding 13,504 shares worth approximately $3.29 million.
• Despite Candriam's sell-off, several institutional investors have increased their stakes in Bio-Rad, including Dimensional Fund Advisors LP and Bank of America Corp DE, with significant percentage increases.
• Bio-Rad reported earnings of $2.61 per share for the last quarter, exceeding analysts' expectations of $1.93, with revenue also surpassing forecasts at $651.60 million.

Candriam S.C.A. reduced its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 60.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,504 shares of the medical research company's stock after selling 20,243 shares during the quarter. Candriam S.C.A.'s holdings in Bio-Rad Laboratories were worth $3,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Bio-Rad Laboratories by 17.5% in 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 buying an additional 130,921 shares during the last quarter. Earnest Partners LLC increased its holdings 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 buying an additional 12,500 shares during the last quarter. Ariel Investments LLC increased its holdings 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 buying an additional 181,829 shares during the last quarter. Bank of America Corp DE increased its holdings in Bio-Rad Laboratories by 705.9% in 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 buying an additional 374,269 shares during the last quarter. Finally, First Pacific Advisors LP grew its holdings in shares of 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 valued at $90,739,000 after purchasing an additional 214,705 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Price Performance

NYSE BIO traded down $7.21 on Monday, reaching $296.61. 214,830 shares of the stock traded hands, compared to its average volume of 325,893. The firm's fifty day simple moving average is $258.56 and its 200 day simple moving average is $251.67. The company has a quick ratio of 3.67, a current ratio of 5.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 25.29 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.93 by $0.68. The firm had revenue of $651.60 million during 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 firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $3.11 EPS. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BIO. Wells Fargo & Company increased their price target on Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Wall Street Zen cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Friday. Citigroup dropped their price target on 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. Royal Bank Of Canada increased their price target 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. Finally, UBS Group dropped their price target on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.