Charles Schwab Investment Management Inc. Has $49.49 Million Stock Holdings in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Bio-Rad Laboratories by 5.9%, acquiring an additional 11,313 shares, and now holds a total of 203,180 shares valued at approximately $49.5 million.
• Multiple hedge funds have recently adjusted their positions in Bio-Rad, with 65.24% of the stock owned by institutional investors, indicating strong institutional interest in the company.
• Bio-Rad reported a better-than-expected quarterly earnings of $2.61 per share, surpassing the consensus estimate of $1.93, alongside revenue of $651.6 million, up 2.1% year-over-year.

Charles Schwab Investment Management Inc. grew its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,180 shares of the medical research company's stock after buying an additional 11,313 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.73% of Bio-Rad Laboratories worth $49,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. GeoWealth Management LLC lifted its holdings 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 buying an additional 72 shares during the last quarter. Curat Global LLC acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter valued at about $34,000. Allworth Financial LP lifted its holdings in shares of Bio-Rad Laboratories by 260.0% during the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock valued at $36,000 after buying an additional 104 shares during the last quarter. Skylands Capital LLC acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter valued at about $122,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at about $131,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. UBS Group reduced 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. Royal Bank Of Canada boosted their target price on Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Wells Fargo & Company boosted their target price on Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Citigroup reduced their target price on Bio-Rad Laboratories from $400.00 to $350.00 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 assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Bio-Rad Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $333.50.

Bio-Rad Laboratories Stock Performance

Shares of BIO traded down $3.43 on Thursday, reaching $284.73. 158,530 shares of the stock traded hands, compared to its average volume of 301,359. 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's 50-day moving average price is $255.76 and its 200-day moving average price is $253.61. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99. The firm has a market cap of $7.70 billion, a price-to-earnings ratio of 24.27 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released 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. 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 analyst estimates of $614.82 million. During the same period in the prior year, the company posted $3.11 earnings per share. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Equities analysts forecast 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.