Several institutional investors have changed their stakes in Bio-Rad Laboratories. UMB Bank increased its holdings by 140.6%, now owning 77 shares worth $26,000 after buying 45 more shares. Wahed Invest raised its stake by 14%, holding 399 shares valued at $138,000 after adding 49 shares. Tokio Marine increased their position by 7.7%, owning 836 shares worth $289,000 after buying 60 shares. Capital Advisors grew their stake by 193.8%, now holding 94 shares valued at $26,000 after purchasing 62 shares. Natixis lifted its stake by 3.4%, owning 1,986 shares now worth $687,000 after buying 65 more shares. Overall, institutional investors own 65.24% of the company.
Bio-Rad Laboratories Stock Update
Bio-Rad shares opened at $336.92. The company has a 50-day average price of $328.84 and a 200-day average of $306.88. Its stock reached a low of $261.59 and a high of $364.24 over the past year. With a market cap of $9.61 billion, it has a P/E ratio of -32.52 and a beta of 0.95. Key ratios include a quick ratio of 4.63, a current ratio of 6.28, and a debt-to-equity ratio of 0.18.
Recently, Bio-Rad reported earnings of $3.11 per share, surpassing the expected $2.12. Revenue was $638.50 million, below the forecast of $645.79 million. Year-over-year, revenue declined by 6.3%. Analysts predict an earnings per share of 9.45 for the current fiscal year.
Analyst Ratings
Bio-Rad has received multiple ratings recently. Wells Fargo initiated coverage with an “equal weight” rating and a $340 price target. Royal Bank of Canada maintained an “outperform” rating with a $401 target. StockNews lowered its rating from “buy” to “hold.” Citigroup upgraded it from “neutral” to “buy” with a target increased to $400. Currently, there are three “hold” ratings and three “buy” ratings, resulting in a consensus rating of “Moderate Buy” with a price target of $368.20.
Insider Transactions
James Barry, EVP, sold 623 shares at $330.49, totaling $205,895.27, while COO Andrew J. Last sold 3,000 shares at $329.94 for nearly $990,000. Corporate insiders currently hold 17.06% of the stock.
About Bio-Rad Laboratories
Bio-Rad Laboratories manufactures life science research and clinical diagnostic products. With a focus on instruments, systems, and reagents for biological materials, it operates in various markets including proteomics and genomics.
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