Raymond James Financial Inc. Decreases Stock Position in Bio-Rad Laboratories, Inc. $BIO

Raymond James Financial Inc. cut its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 2.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,172 shares of the medical research company’s stock after selling 409 shares during the quarter. Raymond James Financial Inc. owned about 0.05% of Bio-Rad Laboratories worth $3,695,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Curat Global LLC acquired a new position in shares of Bio-Rad Laboratories in the first quarter valued at about $34,000. Allworth Financial LP increased its holdings in shares of 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 period. Headlands Technologies LLC increased its holdings in shares of 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 period. Skylands Capital LLC acquired a new position in shares of Bio-Rad Laboratories in the first quarter valued at about $122,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Bio-Rad Laboratories in the first quarter valued at about $206,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BIO has been the topic of several analyst reports. Royal Bank Of Canada raised their target price on Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Wells Fargo & Company raised their target price on Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Finally, Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Three investment 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $333.50.

Bio-Rad Laboratories Stock Up 2.0%

Shares of BIO opened at $295.27 on Friday. 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 12 month low of $211.43 and a 12 month high of $387.99. The stock’s 50 day moving average is $268.80 and its two-hundred day moving average is $251.78. The firm has a market cap of $7.99 billion, a P/E ratio of 25.17 and a beta of 0.95.

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

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.