Retirement Planning Co of New England Inc. Buys Shares of 900 Bio-Rad Laboratories, Inc. $BIO

Key Points

• Retirement Planning Co of New England Inc. recently acquired 900 shares of Bio-Rad Laboratories, Inc., valued at approximately $219,000, as reported in their Form 13F filing with the SEC.
• Analyst ratings for Bio-Rad have been mixed, with Royal Bank of Canada raising their target price to $409.00, while Wall Street Zen downgraded their rating from "buy" to "hold".
• Bio-Rad reported better-than-expected quarterly earnings, posting an EPS of $2.61, which surpassed consensus estimates by $0.68, and reported a revenue increase to $651.60 million.

Retirement Planning Co of New England Inc. acquired a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 900 shares of the medical research company's stock, valued at approximately $219,000.

Several other hedge funds have also made changes to their positions in BIO. Quarry LP bought a new position in Bio-Rad Laboratories during the first quarter valued at about $29,000. Curat Global LLC acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $34,000. Allworth Financial LP increased its position in shares of Bio-Rad Laboratories by 260.0% during the first quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock valued at $36,000 after purchasing an additional 104 shares during the period. Headlands Technologies LLC raised its stake in shares of Bio-Rad Laboratories by 64.1% in the first quarter. Headlands Technologies LLC now owns 356 shares of the medical research company's stock valued at $87,000 after purchasing an additional 139 shares in the last quarter. Finally, Twin Tree Management LP bought a new position in Bio-Rad Laboratories in the first quarter worth $87,000. Institutional investors own 65.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BIO. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Wall Street Zen lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Wells Fargo & Company upped their target price on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada increased 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 report on Friday, August 1st. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Bio-Rad Laboratories presently has an average rating of "Moderate Buy" and an average price target of $333.50.

Bio-Rad Laboratories Price Performance

NYSE:BIO traded up $5.84 during mid-day trading on Friday, reaching $295.27. 257,890 shares of the company were exchanged, compared to its average volume of 214,067. The company has a quick ratio of 3.67, a current ratio of 5.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $7.99 billion, a PE ratio of 25.17 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99. The company has a fifty day moving average of $268.80 and a 200 day moving average of $251.53.

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 the consensus estimate 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 net margin of 12.50% and a return on equity of 4.01%. Bio-Rad Laboratories's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal 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.