Perbak Capital Partners LLP Has $225,000 Holdings in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Perbak Capital Partners LLP reduced its stake in Bio-Rad Laboratories by 78%, selling 3,274 shares and retaining 925 shares valued at $225,000, according to a recent SEC disclosure.
• Bio-Rad Laboratories reported earnings of $2.61 per share, exceeding analysts' expectations of $1.93, with revenues reaching $651.60 million for the quarter.
• Despite a 2.2% decline in stock price recently, Bio-Rad Laboratories maintains a market cap of $7.88 billion and a consensus rating of "Moderate Buy" among analysts.

Perbak Capital Partners LLP trimmed its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 78.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 925 shares of the medical research company's stock after selling 3,274 shares during the period. Perbak Capital Partners LLP's holdings in Bio-Rad Laboratories were worth $225,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BIO. Bank of America Corp DE raised its position in shares of Bio-Rad Laboratories by 705.9% in the 4th quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company's stock valued at $140,370,000 after acquiring an additional 374,269 shares during the period. First Pacific Advisors LP raised its holdings in Bio-Rad Laboratories by 136.0% during the 1st quarter. First Pacific Advisors LP now owns 372,555 shares of the medical research company's stock worth $90,739,000 after buying an additional 214,705 shares during the period. GAMMA Investing LLC raised its holdings in Bio-Rad Laboratories by 22,131.7% during the 1st quarter. GAMMA Investing LLC now owns 147,841 shares of the medical research company's stock worth $36,008,000 after buying an additional 147,176 shares during the period. Dimensional Fund Advisors LP raised its holdings in Bio-Rad Laboratories by 17.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 877,040 shares of the medical research company's stock worth $213,608,000 after buying an additional 130,921 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $15,464,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Performance

NYSE BIO traded up $5.84 on Friday, hitting $295.27. 257,890 shares of the stock were exchanged, compared to its average volume of 211,765. The business's fifty day moving average is $268.80 and its 200 day moving average is $251.78. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $387.99. The company has a market capitalization of $7.99 billion, a PE ratio of 25.17 and a beta of 0.95. 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 (NYSE:BIO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.68. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The business had revenue of $651.60 million during the quarter, compared to the consensus estimate of $614.82 million. During the same quarter last year, the firm posted $3.11 EPS. The company's quarterly revenue was up 2.1% on a year-over-year basis. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BIO has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Zacks Research upgraded shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Royal Bank Of Canada raised 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. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Bio-Rad Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target 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.