Vanguard Group Inc. Sells 7,651 Shares of Bio-Rad Laboratories, Inc. $BIO

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% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,912,157 shares of the medical research company's stock after selling 7,651 shares during the quarter. Vanguard Group Inc. owned about 6.83% of Bio-Rad Laboratories worth $465,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Lecap Asset Management Ltd. raised its holdings in shares of Bio-Rad Laboratories by 3.1% in the 1st quarter. Lecap Asset Management Ltd. now owns 1,600 shares of the medical research company's stock worth $390,000 after purchasing an additional 48 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Bio-Rad Laboratories by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock worth $548,000 after acquiring an additional 55 shares during the last quarter. ProShare Advisors LLC lifted its stake in Bio-Rad Laboratories by 8.0% in the fourth quarter. ProShare Advisors LLC now owns 901 shares of the medical research company's stock worth $296,000 after purchasing an additional 67 shares during the last quarter. GeoWealth Management LLC raised its stake in shares of Bio-Rad Laboratories by 342.9% during the fourth 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 during the last quarter. Finally, Commerce Bank increased its position in shares of Bio-Rad Laboratories by 11.7% during the fourth quarter. Commerce Bank now owns 801 shares of the medical research company's stock valued at $263,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BIO shares. 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 note on Friday, May 2nd. Wall Street Zen raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company upped 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 report on Friday, August 1st. Royal Bank Of Canada raised their price objective 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. Finally, Citigroup cut their price objective on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $333.50.

Bio-Rad Laboratories Stock Up 0.6%

NYSE BIO traded up $1.69 during trading on Tuesday, reaching $286.34. 68,617 shares of the company's stock were exchanged, compared to its average volume of 329,630. The firm has a market capitalization of $7.75 billion, a PE ratio of 24.41 and a beta of 0.90. 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 fifty-two week low of $211.43 and a fifty-two week high of $387.99. The company's fifty day simple moving average is $252.44 and its 200-day simple moving average is $253.61.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 earnings per share (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 analysts' expectations of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.Bio-Rad Laboratories's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Sell-side analysts predict 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.