Twin Tree Management LP Takes $87,000 Position in Bio-Rad Laboratories, Inc. $BIO

Twin Tree Management LP purchased a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the first quarter, Holdings Channel reports. The fund purchased 357 shares of the medical research company’s stock, valued at approximately $87,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in shares of Bio-Rad Laboratories by 6.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 114,002 shares of the medical research company’s stock valued at $27,766,000 after purchasing an additional 6,807 shares in the last quarter. Parnassus Investments LLC raised its holdings in shares of Bio-Rad Laboratories by 2.3% during the 1st quarter. Parnassus Investments LLC now owns 318,111 shares of the medical research company’s stock valued at $77,479,000 after purchasing an additional 7,244 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Bio-Rad Laboratories by 95.3% during the 1st quarter. Jane Street Group LLC now owns 37,383 shares of the medical research company’s stock valued at $9,105,000 after purchasing an additional 18,239 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Bio-Rad Laboratories during the 1st quarter valued at $1,569,000. Finally, AlphaQuest LLC bought a new position in shares of Bio-Rad Laboratories during the 1st quarter valued at $243,000. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $298.39 on Tuesday. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99. The firm’s fifty day simple moving average is $264.85 and its 200 day simple moving average is $251.29. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $8.07 billion, a PE ratio of 25.44 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share (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 analyst estimates of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. The business’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 anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BIO shares. Royal Bank Of Canada raised their price target 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. Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Wells Fargo & Company raised their target price on shares of 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. Finally, Zacks Research upgraded shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” 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.