Bio-Rad Laboratories, Inc. (NYSE:BIO) Holdings Boosted by Tower Research Capital LLC TRC

Posted by Defense World Staff on Aug 23rd, 2023

Tower Research Capital LLC TRC boosted its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO – Free Report) by 88.7% during the first quarter, HoldingsChannel.com reports. The fund owned 915 shares of the medical research company’s stock after acquiring an additional 430 shares during the period. Tower Research Capital LLC TRC’s holdings in Bio-Rad Laboratories were worth $438,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Simplicity Solutions LLC lifted its holdings in Bio-Rad Laboratories by 303.7% in the first quarter. Simplicity Solutions LLC now owns 2,067 shares of the medical research company’s stock worth $990,000 after acquiring an additional 1,555 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Bio-Rad Laboratories by 17.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 949 shares of the medical research company’s stock worth $399,000 after acquiring an additional 141 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Bio-Rad Laboratories in the fourth quarter worth about $149,000. Y Intercept Hong Kong Ltd bought a new position in Bio-Rad Laboratories in the first quarter worth about $502,000. Finally, FORA Capital LLC lifted its holdings in Bio-Rad Laboratories by 34.2% in the fourth quarter. FORA Capital LLC now owns 1,569 shares of the medical research company’s stock worth $660,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 64.11% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $379.07 on Wednesday. Bio-Rad Laboratories, Inc. has a 52 week low of $344.63 and a 52 week high of $516.90. The company has a current ratio of 5.39, a quick ratio of 4.06 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $11.02 billion, a P/E ratio of -25.25 and a beta of 0.89. The firm’s 50 day moving average is $389.79 and its two-hundred day moving average is $423.86.

Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The medical research company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.45. Bio-Rad Laboratories had a negative net margin of 15.52% and a positive return on equity of 4.02%. The business had revenue of $681.10 million for the quarter, compared to analyst estimates of $697.96 million. During the same quarter last year, the business earned $3.38 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts anticipate that Bio-Rad Laboratories, Inc. will post 12.94 earnings per share for the current year.

Analysts Set New Price Targets

BIO has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Bio-Rad Laboratories in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Credit Suisse Group dropped their price target on shares of Bio-Rad Laboratories from $580.00 to $550.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Wells Fargo & Company dropped their price target on shares of Bio-Rad Laboratories from $550.00 to $525.00 and set an “overweight” rating on the stock in a research note on Monday, August 7th. Finally, Royal Bank of Canada raised their price target on shares of Bio-Rad Laboratories from $522.00 to $524.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Four analysts have rated the stock with a buy rating, According to MarketBeat, Bio-Rad Laboratories has an average rating of “Buy” and an average price target of $533.00.

View Our Latest Analysis on BIO

Insider Activity at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $379.39, for a total transaction of $189,695.00. Following the transaction, the executive vice president now owns 6,040 shares in the company, valued at $2,291,515.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Michael Crowley sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $379.39, for a total transaction of $189,695.00. Following the transaction, the executive vice president now owns 6,040 shares in the company, valued at $2,291,515.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ajit Ramalingam sold 198 shares of Bio-Rad Laboratories stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $368.30, for a total transaction of $72,923.40. The disclosure for this sale can be found here. Company insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Company Profile

(Free Report)

Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.