Petrus Trust Company LTA Acquires 1,186 Shares of 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 grew its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 72.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,824 shares of the medical research company's stock after buying an additional 1,186 shares during the period. Petrus Trust Company LTA's holdings in Bio-Rad Laboratories were worth $688,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lecap Asset Management Ltd. boosted its position in shares of Bio-Rad Laboratories by 3.1% during the 1st quarter. Lecap Asset Management Ltd. now owns 1,600 shares of the medical research company's stock worth $390,000 after purchasing an additional 48 shares in the last quarter. State of Alaska Department of Revenue increased its position in Bio-Rad Laboratories by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock valued at $548,000 after buying an additional 55 shares in the last quarter. ProShare Advisors LLC increased its position in Bio-Rad Laboratories by 8.0% in the 4th quarter. ProShare Advisors LLC now owns 901 shares of the medical research company's stock valued at $296,000 after buying an additional 67 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Bio-Rad Laboratories by 10.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 994 shares of the medical research company's stock valued at $242,000 after buying an additional 94 shares in the last quarter. Finally, Park Avenue Securities LLC increased its position in Bio-Rad Laboratories by 4.4% in the 1st quarter. Park Avenue Securities LLC now owns 2,391 shares of the medical research company's stock valued at $582,000 after buying an additional 100 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BIO has been the subject of a number of research analyst reports. Wall Street Zen lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Royal Bank Of Canada upped their target price on Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock 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 report on Friday, August 1st. Finally, Zacks Research raised Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $333.50.

Bio-Rad Laboratories Stock Down 1.5%

NYSE BIO traded down $4.31 on Tuesday, reaching $286.07. The company had a trading volume of 231,850 shares, compared to its average volume of 215,204. The stock has a market capitalization of $7.74 billion, a P/E ratio of 24.39 and a beta of 0.95. The company's fifty day moving average is $270.53 and its 200 day moving average is $251.84. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $387.99. 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 (NYSE:BIO - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.Bio-Rad Laboratories's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.11 EPS. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal 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.