Bio-Rad Laboratories, Inc. $BIO Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Bio-Rad Laboratories by 17.7%, selling 6,644 shares, leaving it with a total of 30,957 shares worth approximately $7.54 million.
• Several large investors have recently increased their positions in Bio-Rad, with Bank of America Corp DE boosting its stake by 705.9% and GAMMA Investing LLC increasing it by 22,131.7%.
• Bio-Rad reported better-than-expected earnings of $2.61 per share, surpassing analyst estimates, alongside a revenue of $651.6 million for the last quarter, marking a 2.1% year-over-year increase.

Deutsche Bank AG lowered its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 17.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 30,957 shares of the medical research company's stock after selling 6,644 shares during the period. Deutsche Bank AG owned about 0.11% of Bio-Rad Laboratories worth $7,540,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GeoWealth Management LLC raised its stake 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 purchased a new position in shares of Bio-Rad Laboratories in the 1st quarter valued at about $34,000. Allworth Financial LP raised its holdings in 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. Skylands Capital LLC acquired a new position in Bio-Rad Laboratories in the 1st quarter worth about $122,000. Finally, Canada Pension Plan Investment Board purchased a new position in Bio-Rad Laboratories during the fourth quarter worth approximately $131,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Price Performance

NYSE:BIO traded down $0.46 during trading hours on Wednesday, hitting $287.91. 129,060 shares of the stock were exchanged, compared to its average volume of 311,819. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $387.99. The firm's fifty day moving average price is $254.72 and its 200 day moving average price is $254.08. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. The company has a market cap of $7.79 billion, a P/E ratio of 24.54 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 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 company had revenue of $651.60 million during the quarter, compared to analyst estimates of $614.82 million. During the same period in the previous year, the business earned $3.11 EPS. Bio-Rad Laboratories's quarterly revenue was up 2.1% on a year-over-year basis. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on BIO shares. Wells Fargo & Company raised their price objective on Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Citigroup dropped their price objective on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. UBS Group dropped their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Royal Bank Of Canada raised their price objective on Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Bio-Rad Laboratories presently has an average rating of "Moderate Buy" and an average price target 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.