Bio-Rad Laboratories, Inc. $BIO is Tikvah Management LLC's 3rd Largest Position

Key Points

• Tikvah Management LLC has reduced its stake in Bio-Rad Laboratories, Inc. by 6.0%, now holding 111,084 shares valued at approximately $27 million.
• Despite Tikvah's decrease, other hedge funds have increased their positions, with GeoWealth Management raising its stake by 342.9%.
• Bio-Rad recently reported earnings that exceeded expectations, with $2.61 earnings per share, topping analysts' forecasts of $1.93.

Tikvah Management LLC decreased its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,084 shares of the medical research company's stock after selling 7,063 shares during the quarter. Bio-Rad Laboratories makes up approximately 9.5% of Tikvah Management LLC's holdings, making the stock its 3rd biggest holding. Tikvah Management LLC owned 0.40% of Bio-Rad Laboratories worth $27,056,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Bio-Rad Laboratories by 0.5% during 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 period. Crossmark Global Holdings Inc. raised its stake in 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 acquiring an additional 123 shares during the period. New York State Teachers Retirement System raised its stake in Bio-Rad Laboratories by 1.2% during the first quarter. New York State Teachers Retirement System now owns 17,500 shares of the medical research company's stock worth $4,262,000 after acquiring an additional 200 shares during the period. Asset Management One Co. Ltd. raised its stake in Bio-Rad Laboratories by 4.6% during the first quarter. Asset Management One Co. Ltd. now owns 7,182 shares of the medical research company's stock worth $1,749,000 after acquiring an additional 315 shares during the period. Finally, Cetera Investment Advisers raised its stake in Bio-Rad Laboratories by 12.5% during the first quarter. Cetera Investment Advisers now owns 1,932 shares of the medical research company's stock worth $471,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO traded up $17.96 during mid-day trading on Friday, reaching $302.99. 783,331 shares of the company traded hands, compared to its average volume of 299,085. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week high of $387.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.12 and a quick ratio of 3.67. The firm has a market cap of $8.20 billion, a PE ratio of 25.83 and a beta of 0.90. The stock has a fifty day simple moving average of $257.27 and a 200-day simple moving average of $253.32.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings data 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 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%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIO has been the topic of several research reports. Wells Fargo & Company increased 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 note on Friday, August 1st. UBS Group dropped their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Royal Bank Of Canada raised 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. Citigroup dropped their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Bio-Rad Laboratories currently has a consensus 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.