The Manufacturers Life Insurance Company Raises Stock Holdings in Bio-Rad Laboratories, Inc. $BIO

Key Points

• The Manufacturers Life Insurance Company increased its stake in Bio-Rad Laboratories by 6.4% in Q1, now holding a total of 114,002 shares worth approximately $27.77 million.
• Analysts have positive forecasts, with Wells Fargo raising the price target for Bio-Rad from $245 to $265, while Royal Bank of Canada increased their target from $387 to $409.
• Bio-Rad reported strong quarterly earnings of $2.61 EPS, exceeding expectations, and a revenue of $651.6 million, which was higher than analyst estimates.

The Manufacturers Life Insurance Company raised its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 6.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,002 shares of the medical research company's stock after acquiring an additional 6,807 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.41% of Bio-Rad Laboratories worth $27,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Curat Global LLC bought a new stake in Bio-Rad Laboratories during the first quarter valued at about $34,000. Allworth Financial LP lifted its position in shares of Bio-Rad Laboratories by 260.0% during the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock valued at $36,000 after buying an additional 104 shares in the last quarter. Headlands Technologies LLC grew its stake in shares of Bio-Rad Laboratories by 64.1% during the 1st quarter. Headlands Technologies LLC now owns 356 shares of the medical research company's stock valued at $87,000 after acquiring an additional 139 shares during the period. Skylands Capital LLC purchased a new stake in Bio-Rad Laboratories in the 1st quarter worth approximately $122,000. Finally, Mackenzie Financial Corp bought a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $207,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Trading Up 2.0%

Shares of NYSE:BIO traded up $5.84 during trading on Friday, reaching $295.27. The company's stock had a trading volume of 257,890 shares, compared to its average volume of 324,843. The firm's 50 day simple moving average is $267.77 and its two-hundred day simple moving average is $251.92. 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, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99. The stock has a market capitalization of $7.99 billion, a PE ratio of 25.17 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.68. The firm had revenue of $651.60 million for the quarter, compared to the consensus estimate of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.11 EPS. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BIO. Wells Fargo & Company increased their price target on Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Wall Street Zen downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Zacks Research raised Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada upped their price target on Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $333.50.

Bio-Rad Laboratories Company 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.