Bio-Rad Laboratories, Inc. $BIO Shares Bought by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Bio-Rad Laboratories by 129.3%, acquiring an additional 2,067 shares, bringing its total holdings to 3,665 shares valued at approximately $880,000.
• Major institutional investors, including Principal Financial Group and Crossmark Global Holdings, also raised their positions in Bio-Rad during the same quarter, with institutional ownership now at 65.24%.
• Bio-Rad reported a net earnings per share of $2.61 for the latest quarter, surpassing estimates and illustrating a revenue increase of 2.1% year-over-year.

Ethic Inc. boosted its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 129.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,665 shares of the medical research company's stock after purchasing an additional 2,067 shares during the period. Ethic Inc.'s holdings in Bio-Rad Laboratories were worth $880,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in Bio-Rad Laboratories by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 44,343 shares of the medical research company's stock valued at $10,800,000 after purchasing an additional 236 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Bio-Rad Laboratories by 14.6% in the first quarter. Crossmark Global Holdings Inc. now owns 966 shares of the medical research company's stock worth $235,000 after acquiring an additional 123 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Bio-Rad Laboratories by 1.2% in the first quarter. New York State Teachers Retirement System now owns 17,500 shares of the medical research company's stock worth $4,262,000 after acquiring an additional 200 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Bio-Rad Laboratories by 4.6% in the first quarter. Asset Management One Co. Ltd. now owns 7,182 shares of the medical research company's stock worth $1,749,000 after acquiring an additional 315 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Bio-Rad Laboratories by 12.5% in the first quarter. Cetera Investment Advisers now owns 1,932 shares of the medical research company's stock worth $471,000 after acquiring an additional 215 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Up 6.3%

Shares of BIO stock traded up $17.96 on Friday, reaching $302.99. 783,331 shares of the stock were exchanged, compared to its average volume of 299,085. 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 business's 50 day moving average price is $257.27 and its 200 day moving average price is $252.64. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 25.83 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a twelve month low of $211.43 and a twelve month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results 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. The firm had revenue of $651.60 million during 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 company's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup dropped their price target 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. 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 note on Friday, August 1st. UBS Group dropped their price target 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. 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 note on Friday, August 1st. Finally, Wall Street Zen downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.