Wellington Management Group LLP Purchases 1,549 Shares of Bio-Rad Laboratories, Inc. $BIO

Wellington Management Group LLP raised its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 191.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,359 shares of the medical research company’s stock after purchasing an additional 1,549 shares during the quarter. Wellington Management Group LLP’s holdings in Bio-Rad Laboratories were worth $575,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BIO. Curat Global LLC bought a new stake in Bio-Rad Laboratories in the first quarter valued at approximately $34,000. Allworth Financial LP lifted its position 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 Bio-Rad Laboratories by 64.1% in the first quarter. Headlands Technologies LLC now owns 356 shares of the medical research company’s stock valued at $87,000 after purchasing an additional 139 shares during the last quarter. Skylands Capital LLC bought a new stake in Bio-Rad Laboratories in the first quarter valued at approximately $122,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Bio-Rad Laboratories in the first quarter valued at approximately $206,000. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BIO. Royal Bank Of Canada boosted their price objective on Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Wells Fargo & Company upped their target price on Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Wall Street Zen downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Finally, Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock opened at $298.39 on Tuesday. The company has a quick ratio of 3.67, a current ratio of 5.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $8.07 billion, a PE ratio of 25.44 and a beta of 0.95. The business has a 50 day moving average of $264.85 and a 200 day moving average of $251.29. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.68. The company 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%.The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

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.