Swedbank AB Cuts Stake in Bio-Rad Laboratories, Inc. $BIO

Key Points

• Swedbank AB has reduced its stake in Bio-Rad Laboratories by 38.2%, selling 1,858 shares and maintaining 3,002 shares valued at approximately $731,000.
• Bio-Rad's stock is rated as a Moderate Buy with an average target price of $333.50, with multiple analysts adjusting their price targets recently.
• In its latest earnings report, Bio-Rad exceeded expectations with a reported $2.61 earnings per share, compared to the consensus estimate of $1.93, and revenue growth of 2.1% year-over-year.

Swedbank AB cut its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 38.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,002 shares of the medical research company's stock after selling 1,858 shares during the period. Swedbank AB's holdings in Bio-Rad Laboratories were worth $731,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of Bio-Rad Laboratories by 0.5% in the first quarter. Principal Financial Group Inc. now owns 44,343 shares of the medical research company's stock worth $10,800,000 after acquiring an additional 236 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Bio-Rad Laboratories by 14.6% during the first quarter. Crossmark Global Holdings Inc. now owns 966 shares of the medical research company's stock worth $235,000 after buying an additional 123 shares during the last quarter. Amundi raised its stake in shares of Bio-Rad Laboratories by 16.4% during the first quarter. Amundi now owns 23,336 shares of the medical research company's stock worth $5,478,000 after buying an additional 3,294 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Bio-Rad Laboratories in the first quarter valued at approximately $816,000. Finally, New York State Teachers Retirement System increased its stake in Bio-Rad Laboratories by 1.2% in the first quarter. New York State Teachers Retirement System now owns 17,500 shares of the medical research company's stock valued at $4,262,000 after purchasing an additional 200 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BIO has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Royal Bank Of Canada increased 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 note on Friday, August 1st. Zacks Research upgraded shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $333.50.

Bio-Rad Laboratories Stock Down 0.9%

BIO traded down $2.57 during mid-day trading on Friday, reaching $283.92. 388,407 shares of the stock were exchanged, compared to its average volume of 230,746. The company has a 50 day moving average price of $275.20 and a two-hundred day moving average price of $252.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 5.12. The stock has a market capitalization of $7.68 billion, a PE ratio of 24.20 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99.

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