First Eagle Investment Management LLC Buys 951,123 Shares of Bio-Rad Laboratories, Inc. $BIO

First Eagle Investment Management LLC boosted its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 60.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,517,313 shares of the medical research company’s stock after purchasing an additional 951,123 shares during the quarter. First Eagle Investment Management LLC owned 0.09% of Bio-Rad Laboratories worth $607,478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Bio-Rad Laboratories by 3,633.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 112 shares of the medical research company’s stock worth $27,000 after purchasing an additional 109 shares during the period. Quarry LP acquired a new stake in Bio-Rad Laboratories during the first quarter worth about $29,000. Allworth Financial LP increased its stake in Bio-Rad Laboratories by 260.0% during the first quarter. Allworth Financial LP now owns 144 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 104 shares during the period. UMB Bank n.a. raised its holdings in Bio-Rad Laboratories by 89.8% in the 2nd quarter. UMB Bank n.a. now owns 167 shares of the medical research company’s stock valued at $40,000 after acquiring an additional 79 shares in the last quarter. Finally, Headlands Technologies LLC lifted its position in shares of Bio-Rad Laboratories by 64.1% in the 1st quarter. Headlands Technologies LLC now owns 356 shares of the medical research company’s stock worth $87,000 after acquiring an additional 139 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BIO has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Bio-Rad Laboratories from $265.00 to $340.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Weiss Ratings raised shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 30th. Citigroup increased their price objective on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Royal Bank Of Canada upped their target price 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. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $358.50.

Bio-Rad Laboratories Stock Down 1.1%

Shares of NYSE BIO opened at $306.63 on Friday. Bio-Rad Laboratories, Inc. has a 52-week low of $211.43 and a 52-week high of $377.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 5.12. The business has a fifty day moving average of $299.89 and a two-hundred day moving average of $266.98. The stock has a market cap of $8.30 billion, a PE ratio of -12.61 and a beta of 1.04.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Wednesday, October 29th. The medical research company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.04). Bio-Rad Laboratories had a positive return on equity of 4.18% and a negative net margin of 26.43%.The firm had revenue of $653.00 million for the quarter, compared to analyst estimates of $651.30 million. During the same quarter last year, the business earned $2.01 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal 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.