Earnest Partners LLC Has $146.04 Million Position in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Earnest Partners LLC reduced their stake in Bio-Rad Laboratories by 3.0%, selling 18,428 shares and holding 599,621 shares worth $146 million as of the latest SEC filing.
• Bio-Rad Laboratories reported a quarterly EPS of $2.61, surpassing analyst expectations of $1.93, with a revenue of $651.60 million, increasing 2.1% year-over-year.
• Recent analyst reports have influenced Bio-Rad's stock ratings, with a consensus target price of $333.50 and ratings ranging from "buy" to "hold" among different firms.

Earnest Partners LLC cut its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 599,621 shares of the medical research company's stock after selling 18,428 shares during the quarter. Earnest Partners LLC owned about 2.14% of Bio-Rad Laboratories worth $146,044,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Curat Global LLC bought a new stake in Bio-Rad Laboratories in the 1st quarter valued at about $34,000. Allworth Financial LP raised its position 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 worth $36,000 after buying an additional 104 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Bio-Rad Laboratories by 64.1% during the 1st quarter. Headlands Technologies LLC now owns 356 shares of the medical research company's stock worth $87,000 after buying an additional 139 shares in the last quarter. Skylands Capital LLC bought a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth about $122,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth about $206,000. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Price Performance

Shares of BIO traded up $4.72 during mid-day trading on Monday, hitting $298.39. The company's stock had a trading volume of 199,920 shares, compared to its average volume of 249,221. The firm has a 50-day moving average price of $263.60 and a 200 day moving average price of $251.14. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 25.44 and a beta of 0.95. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.12 and a quick ratio of 3.67. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week high of $387.99.

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

Analyst Ratings Changes

BIO has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price target on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Zacks Research upgraded shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Wells Fargo & Company boosted their price target on shares of 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. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company 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.