Earnest Partners LLC Sells 18,428 Shares of 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 holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 599,621 shares of the medical research company's stock after selling 18,428 shares during the period. Earnest Partners LLC owned 2.14% of Bio-Rad Laboratories worth $146,044,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BIO. Marshall Wace LLP bought a new position in Bio-Rad Laboratories in the fourth quarter worth approximately $749,000. Hsbc Holdings PLC raised its position in shares of Bio-Rad Laboratories by 6.5% during the 4th quarter. Hsbc Holdings PLC now owns 4,234 shares of the medical research company's stock valued at $1,387,000 after purchasing an additional 258 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Bio-Rad Laboratories by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,144 shares of the medical research company's stock valued at $9,575,000 after purchasing an additional 1,524 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at $2,442,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Bio-Rad Laboratories by 23.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 107,195 shares of the medical research company's stock valued at $35,215,000 after purchasing an additional 20,413 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of NYSE:BIO opened at $296.43 on Wednesday. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $387.99. The stock has a market capitalization of $8.02 billion, a P/E ratio of 25.27 and a beta of 0.90. The firm has a fifty day simple moving average of $259.88 and a two-hundred day simple moving average of $251.98. 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 (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, topping 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 business had revenue of $651.60 million during the quarter, compared to analysts' expectations of $614.82 million. During the same period last year, the company posted $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, analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

BIO has been the topic of several recent analyst reports. UBS Group decreased their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. 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. Royal Bank Of Canada raised their price objective on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Citigroup decreased their price objective on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.

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