KLP Kapitalforvaltning AS Sells 3,000 Shares of Bio-Rad Laboratories, Inc. $BIO

KLP Kapitalforvaltning AS decreased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 42.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,100 shares of the medical research company’s stock after selling 3,000 shares during the period. KLP Kapitalforvaltning AS’s holdings in Bio-Rad Laboratories were worth $989,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BIO. Assenagon Asset Management S.A. purchased a new stake in Bio-Rad Laboratories during the 1st quarter valued at approximately $1,078,000. Exchange Traded Concepts LLC grew its holdings in shares of Bio-Rad Laboratories by 175.6% in the first quarter. Exchange Traded Concepts LLC now owns 6,235 shares of the medical research company’s stock valued at $1,519,000 after purchasing an additional 3,973 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Bio-Rad Laboratories by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company’s stock valued at $548,000 after purchasing an additional 55 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Bio-Rad Laboratories by 35.2% in the first quarter. Blue Trust Inc. now owns 1,438 shares of the medical research company’s stock valued at $350,000 after purchasing an additional 374 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Bio-Rad Laboratories by 25.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,033 shares of the medical research company’s stock valued at $252,000 after purchasing an additional 209 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BIO has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Royal Bank Of Canada lifted their price objective 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. Wells Fargo & Company lifted 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 note on Friday, August 1st. Zacks Research raised shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bio-Rad Laboratories in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $333.50.

Bio-Rad Laboratories Stock Performance

BIO stock opened at $305.46 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.12 and a quick ratio of 3.67. The business has a 50-day moving average price of $288.11 and a 200 day moving average price of $257.60. The company has a market capitalization of $8.27 billion, a P/E ratio of 26.04 and a beta of 0.97. Bio-Rad Laboratories, Inc. has a 1-year low of $211.43 and a 1-year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last announced its 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 firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $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 EPS 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.