Exchange Traded Concepts LLC Increases Position in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Exchange Traded Concepts LLC significantly increased its stake in Bio-Rad Laboratories by 123.4%, acquiring an additional 7,697 shares to own a total of 13,932 shares valued at approximately $3.36 million.
• Bio-Rad Laboratories reported $2.61 earnings per share (EPS) for the last quarter, exceeding analyst expectations of $1.93, with a revenue increase of 2.1% year-over-year.
• Wall Street analysts have mixed ratings for Bio-Rad, with price targets ranging from $265 by Wells Fargo to $409 by Royal Bank of Canada, and an average consensus target of $333.50.

Exchange Traded Concepts LLC raised its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 123.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,932 shares of the medical research company's stock after buying an additional 7,697 shares during the period. Exchange Traded Concepts LLC owned about 0.05% of Bio-Rad Laboratories worth $3,362,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP purchased a new position in shares of Bio-Rad Laboratories during the first quarter valued at approximately $29,000. Curat Global LLC bought a new stake in shares of Bio-Rad Laboratories during the first quarter valued at approximately $34,000. Allworth Financial LP raised its stake in shares of Bio-Rad Laboratories by 260.0% during the first quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock valued at $36,000 after acquiring an additional 104 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Bio-Rad Laboratories by 64.1% during the first quarter. Headlands Technologies LLC now owns 356 shares of the medical research company's stock valued at $87,000 after acquiring an additional 139 shares in the last quarter. Finally, Twin Tree Management LP bought a new stake in shares of Bio-Rad Laboratories during the first quarter valued at approximately $87,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on BIO shares. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Wells Fargo & Company lifted their price target on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada lifted their price target on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $333.50.

Bio-Rad Laboratories Stock Up 0.7%

NYSE BIO traded up $2.04 on Tuesday, hitting $285.40. The stock had a trading volume of 59,935 shares, compared to its average volume of 317,350. The business's fifty day moving average price is $275.86 and its 200 day moving average price is $252.83. 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 52-week low of $211.43 and a 52-week high of $387.99. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 24.33 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $651.60 million for the quarter, compared to analyst estimates of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current 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.