Bio-Rad Laboratories, Inc.: A Life Science Pioneer Steadfast in Quality
On June 20, 2023, financial enthusiasts and healthcare experts alike took notice as &Mather Group LLC. announced its acquisition of a new stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) in the fourth quarter. According to its most recent Form 13F filing with the Securities and Exchange Commission, the fund procured 517 shares of this medical research company’s stock valued at $217,000.
Founded in 1952 by David and Alice Schwartz, Bio-Rad boasts an illustrious history in scientific discovery, focusing on life science research and clinical diagnostic products that are distributed across five continents. With headquarters located in California’s Bay Area and offices all over the world, Bio-Rad continually pushes for innovation and quality product offerings that stand the test of time.
Operating through Life Science and Clinical Diagnostics segments, Bio-Rad leads cutting-edge technology development. Its Life Science segment offers reagents, apparatuses, and laboratory apparatuses used in biopharmaceutical production processes and food testing regimes besides scientific research applications.
Recently there has been a renewed buzz around Bio-Rad Laboratories due to its recent coverage by analysts offering high-yield ratings on shares of BIO at various financial institutions.
In May 2023 StockNews.com assumed coverage on BIO shares with a “buy” rating attached to them. Additionally,Wells Fargo & Company began coverage on BIO mentioning an “overweight” rating with $550.00 dollars allocated for a price objective for investors seeking long-term gains.
With five research analysts also issuing “buy” ratings alongside these promising reports as stated by data release from Bloomberg,it is safe to say that many have compiled a consensus stating that purchasing quantities of BIO stocks is likely a wise long-term investment strategy soundly backed by pharmaceutical innovation and stewardship bolstered by years of experience.
As we approach the future, it is important to keep a vigilant eye on Bio-Rad Laboratories, Inc. Their persistence in offering cutting edge products and services will persist despite the shifting sands of healthcare trends. The trailblazing legacy during the past 70 years is hard to ignore and won’t soon be forgotten by investors desiring stability, quality, and scientific brilliance for years to come.
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Institutional Investors Show Confidence in Bio-Rad Laboratories While Executives Sell Shares
Bio-Rad Laboratories, Inc., a US-based medical research company that develops and manufactures life science research and clinical diagnostic products, has been making significant moves lately. As of the first quarter, Vanguard Group Inc. now owns approximately 2.3 million shares in Bio-Rad Laboratories valued at $1.3 billion while Veritas Asset Management LLP increased its stake in the company by 15.6%, owning over a million shares worth $484.5 million during the fourth quarter last year.
Other notable institutional investors that have stakes in Bio-Rad Laboratories include State Street Corp, Brown Advisory Inc., and Geode Capital Management LLC, which collectively hold around 64% of the company’s stock.
However, amidst these positive developments on June 6th and 15th this year, two of Bio-Rad Laboratories’ executives sold off some shares. EVP Michael Crowley sold 500 shares while CAO Ajit Ramalingam let go of 198 shares with both transactions totaling over $250,000. Such shareholder activity is being watched as investors try to decipher what this may mean for the future direction of Bio-Rad Laboratories.
Bio-Rad Laboratories reported their quarterly earnings results in May and did better than expected with revenue totaling $676.8 million compared to consensus estimates of $689.28 million. The medical research firm had an EPS of $3.34 per share during this period as opposed to analysts’ estimated EPS of $3.24 per share.
On June 20th , NYSE:BIO opened at $376.56 with current indicators showing fluctuations between a one-year low of $344.63 – its lowest level since June last year when it touched bottom at around $330 – to a one-year high of $572.70.
The company is currently pushing forward towards valuable milestones especially with their mission of enhancing global health care through innovation in life science research and diagnostics development as well as essential services. Bio-Rad Laboratories’ positive activity has resulted in a market capitalization of $11.15 billion, with more to come if they can maintain and build upon these trends moving forward.
