Bio-Rad Laboratories, Inc. $BIO Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its stake in Bio-Rad Laboratories by 0.4%, now owning approximately 6.83% of the company, valued at around $465.7 million.
• Several large investors have recently increased their positions or established new holdings in Bio-Rad, reflecting a growing interest in the company, with institutional investors owning 65.24% of the stock.
• Bio-Rad reported better-than-expected earnings, achieving $2.61 EPS for the last quarter, surpassing analysts' estimates and indicating a year-over-year revenue increase of 2.1%.

Vanguard Group Inc. lessened its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,912,157 shares of the medical research company's stock after selling 7,651 shares during the period. Vanguard Group Inc. owned 6.83% of Bio-Rad Laboratories worth $465,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of BIO. GeoWealth Management LLC grew its stake in Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after acquiring an additional 72 shares in the last quarter. Curat Global LLC acquired a new position in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $34,000. Allworth Financial LP lifted its holdings in shares of Bio-Rad Laboratories by 260.0% in the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after acquiring an additional 104 shares during the last quarter. Skylands Capital LLC acquired a new position in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $122,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $131,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Trading Down 0.2%

Shares of NYSE BIO traded down $0.46 during midday trading on Wednesday, reaching $287.91. 129,060 shares of the stock were exchanged, compared to its average volume of 311,819. The company has a market capitalization of $7.79 billion, a P/E ratio of 24.54 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $387.99. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $254.72 and a 200-day moving average price of $254.08.

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 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.68. The business had revenue of $651.60 million during 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BIO has been the topic of several recent research reports. Wall Street Zen raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. UBS Group dropped their target price on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company increased 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 report on Friday, August 1st. Citigroup decreased their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. 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 note on Friday, August 1st. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $333.50.

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.