Petrus Trust Company LTA Has $688,000 Holdings in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Petrus Trust Company LTA increased its stake in Bio-Rad Laboratories by 72.4%, holding 2,824 shares valued at approximately $688,000 as of the latest SEC filings.
• Bio-Rad Laboratories reported an earnings per share (EPS) of $2.61 for the last quarter, significantly above analyst expectations of $1.93, with revenue reaching $651.60 million.
• Royal Bank of Canada raised its target price for Bio-Rad shares to $409.00, while Wells Fargo increased theirs to $265.00, indicating positive sentiment towards the stock.

Petrus Trust Company LTA lifted its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 72.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,824 shares of the medical research company's stock after buying an additional 1,186 shares during the quarter. Petrus Trust Company LTA's holdings in Bio-Rad Laboratories were worth $688,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BIO. Jacobs Levy Equity Management Inc. acquired a new stake in Bio-Rad Laboratories during the first quarter worth approximately $816,000. Ariel Investments LLC lifted its holdings in Bio-Rad Laboratories by 29.3% during the 1st quarter. Ariel Investments LLC now owns 724,660 shares of the medical research company's stock worth $176,498,000 after purchasing an additional 164,136 shares during the last quarter. Amundi boosted its stake in Bio-Rad Laboratories by 16.4% in the 1st quarter. Amundi now owns 23,336 shares of the medical research company's stock valued at $5,478,000 after purchasing an additional 3,294 shares during the period. Royal Bank of Canada grew its holdings in Bio-Rad Laboratories by 25.2% in the 1st quarter. Royal Bank of Canada now owns 30,310 shares of the medical research company's stock valued at $7,382,000 after buying an additional 6,100 shares in the last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Bio-Rad Laboratories during the first quarter worth $932,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. 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. Wells Fargo & Company increased 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 research report on Friday, August 1st. 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 report 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 research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Bio-Rad Laboratories has an average rating of "Moderate Buy" and a consensus price target of $333.50.

Bio-Rad Laboratories Price Performance

NYSE BIO traded up $9.00 on Thursday, hitting $285.91. 167,867 shares of the company's stock were exchanged, compared to its average volume of 322,083. The stock has a 50-day moving average of $271.06 and a 200-day moving average of $252.02. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 24.37 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $387.99. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17.

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

About Bio-Rad Laboratories

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.