United Services Automobile Association Buys Shares of 1,202 Bio-Rad Laboratories, Inc. $BIO

Key Points

• United Services Automobile Association acquired a new stake in Bio-Rad Laboratories, purchasing 1,202 shares valued at approximately $292,000.
• Bio-Rad Laboratories reported a quarterly earnings per share (EPS) of $2.61, exceeding analysts' expectations of $1.93, with revenue totaling $651.60 million.
• Institutional investors own 65.24% of Bio-Rad's stock, indicating significant investor confidence in the company.

United Services Automobile Association bought a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,202 shares of the medical research company's stock, valued at approximately $292,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in Bio-Rad Laboratories during the 1st quarter worth approximately $29,000. Curat Global LLC purchased a new position in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $34,000. Allworth Financial LP lifted its stake in Bio-Rad Laboratories by 260.0% in 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 last quarter. Headlands Technologies LLC lifted its position in shares of Bio-Rad Laboratories by 64.1% during the first quarter. Headlands Technologies LLC now owns 356 shares of the medical research company's stock worth $87,000 after acquiring an additional 139 shares in the last quarter. Finally, Twin Tree Management LP purchased a new stake in shares of Bio-Rad Laboratories during the first quarter worth $87,000. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Trading Up 1.4%

BIO stock traded up $4.03 during mid-day trading on Thursday, reaching $284.32. The company had a trading volume of 38,196 shares, compared to its average volume of 318,304. 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 company has a market capitalization of $7.69 billion, a PE ratio of 24.24 and a beta of 0.95. The firm has a 50 day moving average of $274.16 and a 200 day moving average of $252.33. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BIO shares. Zacks Research raised Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Wells Fargo & Company raised 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 report on Friday, August 1st. Royal Bank Of Canada lifted their price objective on Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Wall Street Zen lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $333.50.

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.