CenterBook Partners LP Has $3.46 Million Stake in Bio-Rad Laboratories, Inc. $BIO

CenterBook Partners LP lowered its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 46.2% during the second quarter, Holdings Channel reports. The institutional investor owned 14,353 shares of the medical research company’s stock after selling 12,301 shares during the quarter. CenterBook Partners LP’s holdings in Bio-Rad Laboratories were worth $3,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Amundi increased its stake in Bio-Rad Laboratories by 16.4% in the first quarter. Amundi now owns 23,336 shares of the medical research company’s stock valued at $5,478,000 after acquiring an additional 3,294 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Bio-Rad Laboratories during the first quarter valued at approximately $816,000. Acadian Asset Management LLC boosted its holdings in Bio-Rad Laboratories by 79.6% during the first quarter. Acadian Asset Management LLC now owns 73,431 shares of the medical research company’s stock valued at $17,878,000 after purchasing an additional 32,534 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Bio-Rad Laboratories by 12.5% in the 1st quarter. Cetera Investment Advisers now owns 1,932 shares of the medical research company’s stock valued at $471,000 after purchasing an additional 215 shares during the period. Finally, United Services Automobile Association acquired a new position in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $292,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Up 4.4%

Shares of NYSE BIO opened at $316.92 on Friday. The firm’s 50-day simple moving average is $304.72 and its 200 day simple moving average is $272.50. The company has a market cap of $8.55 billion, a price-to-earnings ratio of -13.04 and a beta of 1.04. The company has a quick ratio of 3.67, a current ratio of 5.12 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 $373.69.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Wednesday, October 29th. The medical research company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.04). Bio-Rad Laboratories had a negative net margin of 26.43% and a positive return on equity of 4.18%. The company had revenue of $653.00 million during the quarter, compared to analyst estimates of $651.30 million. During the same quarter in the previous year, the business posted $2.01 EPS. The company’s revenue was up .5% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, research analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP James Barry sold 700 shares of Bio-Rad Laboratories stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $306.18, for a total value of $214,326.00. Following the completion of the sale, the executive vice president directly owned 510 shares of the company’s stock, valued at approximately $156,151.80. This trade represents a 57.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.06% of the company’s stock.

Analyst Upgrades and Downgrades

BIO has been the topic of several recent analyst reports. Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup upped their target price on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bio-Rad Laboratories in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $358.50.

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.