Millennium Management LLC Sells 41,025 Shares of Bio-Rad Laboratories, Inc. $BIO

Key Points

• Millennium Management LLC sold 41,025 shares of Bio-Rad Laboratories, reducing its holdings by 10.9%, now owning 336,052 shares valued at approximately $81.8 million.
• Bio-Rad Laboratories reported earnings of $2.61 per share, exceeding estimates by $0.68, with revenue reaching $651.6 million for the quarter, up 2.1% year-over-year.
• The stock has seen a price increase, currently trading at $295.27, with an average target price of $333.50 and a consensus rating of "Moderate Buy" among analysts.

Millennium Management LLC decreased its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 336,052 shares of the medical research company's stock after selling 41,025 shares during the quarter. Millennium Management LLC owned about 1.20% of Bio-Rad Laboratories worth $81,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of BIO. Quarry LP bought a new stake in Bio-Rad Laboratories during the 1st quarter valued at $29,000. Curat Global LLC bought a new stake in Bio-Rad Laboratories during the 1st quarter valued at $34,000. Allworth Financial LP raised its holdings in Bio-Rad Laboratories by 260.0% during the 1st 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 during the period. Headlands Technologies LLC raised its holdings in Bio-Rad Laboratories by 64.1% during the 1st 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 during the period. Finally, Twin Tree Management LP bought a new stake in Bio-Rad Laboratories during the 1st quarter valued at $87,000. Institutional investors own 65.24% of the company's stock.

Analysts Set New Price Targets

BIO has been the topic of a number of analyst reports. Wall Street Zen cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Royal Bank Of Canada boosted 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 report on Friday, August 1st. Wells Fargo & Company upped their target price on 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, Zacks Research upgraded Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $333.50.

Bio-Rad Laboratories Price Performance

BIO traded down $5.84 during trading on Friday, reaching $280.06. The stock had a trading volume of 77,799 shares, compared to its average volume of 320,640. The stock has a market cap of $7.58 billion, a PE ratio of 23.88 and a beta of 0.95. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 5.12. Bio-Rad Laboratories, Inc. has a one year low of $211.43 and a one year high of $387.99. The business has a 50-day moving average of $271.74 and a 200-day moving average of $252.06.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.68. The business had revenue of $651.60 million for the quarter, compared to analysts' expectations of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The firm's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

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.