VIRGINIA RETIREMENT SYSTEMS ET Al Invests $652,000 in Bio-Rad Laboratories, Inc. $BIO

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,700 shares of the medical research company’s stock, valued at approximately $652,000.

A number of other hedge funds have also recently made changes to their positions in the business. Arnhold LLC bought a new position in shares of Bio-Rad Laboratories in the second quarter worth about $8,394,000. Allianz Asset Management GmbH boosted its stake in shares of Bio-Rad Laboratories by 231.8% in the second quarter. Allianz Asset Management GmbH now owns 54,239 shares of the medical research company’s stock worth $13,089,000 after acquiring an additional 37,893 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Bio-Rad Laboratories by 42.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,023 shares of the medical research company’s stock worth $730,000 after acquiring an additional 900 shares during the period. Sivik Global Healthcare LLC bought a new position in shares of Bio-Rad Laboratories in the second quarter worth about $4,344,000. Finally, Blue Trust Inc. boosted its stake in shares of Bio-Rad Laboratories by 5.5% in the second quarter. Blue Trust Inc. now owns 1,517 shares of the medical research company’s stock worth $366,000 after acquiring an additional 79 shares during the period. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on BIO shares. Wells Fargo & Company increased their price target on Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Bio-Rad Laboratories in a research note on Tuesday, October 14th. Royal Bank Of Canada increased their price target on Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $333.50.

Bio-Rad Laboratories Trading Up 0.4%

Shares of NYSE BIO opened at $339.92 on Friday. 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’s 50 day moving average price is $295.35 and its 200-day moving average price 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 market cap of $9.20 billion, a price-to-earnings ratio of 28.98 and a beta of 0.97.

Bio-Rad Laboratories (NYSE:BIO) last released 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. The company had revenue of $651.60 million for the quarter, compared to the consensus estimate of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.Bio-Rad Laboratories’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $3.11 EPS. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current 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.