Caxton Associates LLP Takes $730,000 Position in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Caxton Associates LLP acquired a new position in Bio-Rad Laboratories, purchasing 2,998 shares valued at approximately $730,000 during the first quarter.
• Several institutional investors raised their stakes in Bio-Rad, with First Pacific Advisors LP increasing its position by 136.0% to 372,555 shares worth around $90.7 million.
• Bio-Rad Laboratories reported a quarterly earnings per share of $2.61, surpassing analyst expectations of $1.93, with a revenue of $651.6 million for the same period.

Caxton Associates LLP acquired a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,998 shares of the medical research company's stock, valued at approximately $730,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIO. Quarry LP bought a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $29,000. Curat Global LLC bought a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $34,000. Allworth Financial LP raised its holdings in shares of Bio-Rad Laboratories by 260.0% in the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after purchasing an additional 104 shares during the period. Headlands Technologies LLC raised its holdings in shares of Bio-Rad Laboratories by 64.1% in the 1st quarter. Headlands Technologies LLC now owns 356 shares of the medical research company's stock worth $87,000 after purchasing an additional 139 shares during the period. Finally, Twin Tree Management LP bought a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $87,000. 65.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BIO has been the topic of a number of research reports. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Wells Fargo & Company boosted 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 report on Friday, August 1st. Wall Street Zen cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Royal Bank Of Canada boosted their target price on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $333.50.

Bio-Rad Laboratories Trading Up 0.4%

Bio-Rad Laboratories stock traded up $1.03 during mid-day trading on Tuesday, hitting $281.24. The company's stock had a trading volume of 24,424 shares, compared to its average volume of 319,250. 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 stock has a market cap of $7.61 billion, a price-to-earnings ratio of 23.98 and a beta of 0.95. The business has a 50 day moving average price of $272.98 and a 200-day moving average price of $251.92. 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 data on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, beating the consensus estimate of $1.93 by $0.68. The firm had revenue of $651.60 million during the quarter, compared to the consensus estimate of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current 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.