Jacobs Levy Equity Management Inc. Invests $816,000 in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new stake in Bio-Rad Laboratories, Inc., purchasing 3,349 shares valued at approximately $816,000 during the first quarter.
• Wall Street analysts have mixed opinions on Bio-Rad, with ratings varying from a "buy" to a "hold," and a consensus price target of $333.50.
• Bio-Rad reported earnings of $2.61 per share, surpassing analysts' expectations by $0.68, with revenue of $651.60 million for the quarter, showing a 2.1% increase year-over-year.

Jacobs Levy Equity Management Inc. bought a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,349 shares of the medical research company's stock, valued at approximately $816,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Ariel Investments LLC grew its holdings in shares of Bio-Rad Laboratories by 29.3% during the first quarter. Ariel Investments LLC now owns 724,660 shares of the medical research company's stock worth $176,498,000 after buying an additional 164,136 shares in the last quarter. Amundi boosted its stake in shares of Bio-Rad Laboratories by 16.4% during the 1st quarter. Amundi now owns 23,336 shares of the medical research company's stock worth $5,478,000 after acquiring an additional 3,294 shares during the period. Royal Bank of Canada increased its position in Bio-Rad Laboratories by 25.2% during the 1st quarter. Royal Bank of Canada now owns 30,310 shares of the medical research company's stock worth $7,382,000 after buying an additional 6,100 shares during the period. Armistice Capital LLC bought a new position in Bio-Rad Laboratories during the 1st quarter worth $932,000. Finally, Retirement Planning Co of New England Inc. bought a new stake in shares of Bio-Rad Laboratories during the 1st quarter valued at $219,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Royal Bank Of Canada boosted their price target on Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Wall Street Zen cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Wells Fargo & Company upped their target price on 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. Finally, Zacks Research upgraded Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $333.50.

Bio-Rad Laboratories Stock Up 2.0%

NYSE:BIO traded up $5.69 on Thursday, hitting $285.98. The stock had a trading volume of 176,442 shares, compared to its average volume of 230,275. The business's fifty day moving average is $274.67 and its 200 day moving average is $252.53. The company has a market cap of $7.74 billion, a PE ratio of 24.38 and a beta of 0.95. 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, Inc. has a 52 week low of $211.43 and a 52 week high of $387.99.

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 the consensus estimate 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 return on equity of 4.01% and a net margin of 12.50%.The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal 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.