Quantbot Technologies LP Invests $2.23 Million in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Quantbot Technologies LP has acquired 9,144 shares of Bio-Rad Laboratories, valued at approximately $2.23 million, marking a significant new stake for the institutional investor.
• Multiple institutional investors, including Bank of America Corp DE and First Pacific Advisors LP, have increased their positions in Bio-Rad Laboratories significantly over the last quarter.
• Despite a recent quarterly earnings report exceeding expectations, Bio-Rad Laboratories has a moderate buy consensus rating from analysts, with an average target price of $333.50.

Quantbot Technologies LP acquired a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 9,144 shares of the medical research company's stock, valued at approximately $2,227,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC lifted its holdings in shares of Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after purchasing an additional 72 shares during the last quarter. Curat Global LLC acquired a new stake in shares of Bio-Rad Laboratories during the first quarter worth $34,000. Allworth Financial LP raised its stake in Bio-Rad Laboratories by 260.0% in the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after acquiring an additional 104 shares during the last quarter. Headlands Technologies LLC raised its stake in Bio-Rad Laboratories by 64.1% in the 1st quarter. Headlands Technologies LLC now owns 356 shares of the medical research company's stock worth $87,000 after acquiring an additional 139 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Bio-Rad Laboratories in the 4th quarter worth $131,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

BIO has been the topic of several analyst reports. Citigroup cut their price target on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Friday. Wells Fargo & Company upped their price objective 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 raised their target price on 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, UBS Group dropped their target price on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $333.50.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock traded down $8.10 during midday trading on Monday, reaching $295.72. The company had a trading volume of 93,761 shares, compared to its average volume of 329,562. The company has a market capitalization of $8.00 billion, a P/E ratio of 25.21 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 12-month low of $211.43 and a 12-month high of $387.99. The firm's fifty day simple moving average is $257.27 and its 200-day simple moving average is $251.99. 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 posted its quarterly earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.68. The firm had revenue of $651.60 million for the quarter, compared to analyst estimates of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. Bio-Rad Laboratories's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current 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.