Charles Schwab Investment Management Inc. Has $49.49 Million 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 stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 about 0.73% of Bio-Rad Laboratories worth $49,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lecap Asset Management Ltd. grew its position in 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 worth $390,000 after acquiring an additional 48 shares in the last quarter. State of Alaska Department of Revenue grew its position in Bio-Rad Laboratories by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock worth $548,000 after acquiring an additional 55 shares in the last quarter. ProShare Advisors LLC grew its position in Bio-Rad Laboratories by 8.0% in the fourth quarter. ProShare Advisors LLC now owns 901 shares of the medical research company's stock worth $296,000 after acquiring an additional 67 shares in the last quarter. GeoWealth Management LLC grew its position in Bio-Rad Laboratories by 342.9% in the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock worth $31,000 after acquiring an additional 72 shares in the last quarter. Finally, Commerce Bank grew its position in Bio-Rad Laboratories by 11.7% in the fourth quarter. Commerce Bank now owns 801 shares of the medical research company's stock worth $263,000 after acquiring an additional 84 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BIO. Wall Street Zen upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada boosted their price objective on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Wells Fargo & Company boosted their price objective on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. UBS Group reduced their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Citigroup reduced 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 note on Friday, May 2nd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Bio-Rad Laboratories currently has a consensus rating of "Moderate Buy" and an average target price of $333.50.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock traded down $2.62 during mid-day trading on Thursday, reaching $285.54. The company had a trading volume of 29,104 shares, compared to its average volume of 327,312. The company has a quick ratio of 3.67, a current ratio of 5.12 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 company has a 50 day moving average of $254.72 and a 200-day moving average of $254.08. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 24.34 and a beta of 0.90.

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 for the quarter, beating analysts' consensus estimates of $1.93 by $0.68. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. The firm had revenue of $651.60 million during the quarter, compared to the consensus estimate of $614.82 million. During the same period in the prior year, the firm earned $3.11 EPS. 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. On average, sell-side analysts expect 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.