Envestnet Portfolio Solutions Inc. Cuts Stake in Bio-Rad Laboratories, Inc. $BIO

Envestnet Portfolio Solutions Inc. lessened its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 24.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 978 shares of the medical research company’s stock after selling 315 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Bio-Rad Laboratories were worth $236,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC boosted its stake in Bio-Rad Laboratories by 42.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,023 shares of the medical research company’s stock valued at $730,000 after purchasing an additional 900 shares during the last quarter. Sivik Global Healthcare LLC purchased a new stake in shares of Bio-Rad Laboratories during the second quarter valued at $4,344,000. Blue Trust Inc. increased its holdings in Bio-Rad Laboratories by 5.5% in the 2nd quarter. Blue Trust Inc. now owns 1,517 shares of the medical research company’s stock worth $366,000 after buying an additional 79 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Bio-Rad Laboratories by 25.9% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,441 shares of the medical research company’s stock worth $348,000 after buying an additional 296 shares during the last quarter. Finally, RK Asset Management LLC lifted its stake in Bio-Rad Laboratories by 0.8% during the 2nd quarter. RK Asset Management LLC now owns 14,502 shares of the medical research company’s stock valued at $3,501,000 after acquiring an additional 113 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $339.92 on Friday. The business’s fifty day moving average is $295.35 and its 200 day moving average is $262.09. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week high of $387.99. 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 company has a market capitalization of $9.20 billion, a PE ratio of 28.98 and a beta of 0.97.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, topping 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 firm had revenue of $651.60 million for the quarter, compared to the consensus estimate of $614.82 million. During the same quarter last year, the company earned $3.11 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Wells Fargo & Company lifted their price objective 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. Wall Street Zen downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Bio-Rad Laboratories in a research note on Tuesday, October 14th. Three research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $333.50.

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.