The Vanguard Group, Inc. recently announced the acquisition of new stake in Bio-Rad Laboratories Inc. (NYSE:BIO). The institutional investor has increased its shareholding in the Healthcare company by 0.09% to 2.26 million shares with purchase of 2042.0 shares. This fresh investment now brings its stake to 9.15% valued currently at $952.24 million. In addition, BlackRock Fund Advisors raised its holdings by 7630.0 to 1.14 million shares. And Veritas Asset Management LLP has lifted its position by 29.98% or 0.23 million shares – to 1.0 million shares.
With over 0.13 million Bio-Rad Laboratories Inc. (BIO) shares trading Monday and a closing price of $467.04 on the day, the dollar volume was approximately $58.92 million. The shares have shown a negative half year performance of -10.98% and its price on 01/23/23 gained nearly 2.13%. Currently, there are 29.73M common shares owned by the public and among those 21.32M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for BIO have a consensus price objective of $591.00. The analysts have set the share’s price value over the next 12 months at a high of $640.00 and a low of $550.00. The average price target is 20.97% above its recent price level and an upside to the estimated low will see the stock gain 15.08% over that period. But an upside of 27.02% will see the stock hit the forecast high price target while median target price for the stock is $600.00.
Insiders at the company have transacted a total of 78 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 16,113 shares. Insider sales of the common stock occurred on 41 occasions, with total insider shares sold totaling 7,815 shares.
The top 3 mutual fund holders in Bio-Rad Laboratories Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market Index owns 0.64 million shares of the company’s stock, all valued at over $269.88 million. The company bought an additional 10065.0 shares recently to bring their total holdings to about 2.59% of the shares outstanding. Vanguard 500 Index Fund bought 6367.0 shares to see its total holdings expand to 0.5 million shares valued at over $209.3 million and representing 2.01% of the shares outstanding. Vanguard Mid Cap Index Fund sold 718.0 shares to bring its total holdings to over 0.49 million shares at a value of $205.69 million. Vanguard Mid Cap Index Fund now owns shares totaling to 1.98% of the shares outstanding.
Shares of Bio-Rad Laboratories Inc. (NYSE: BIO) opened at $457.44, up $0.15 from a prior closing price of $457.29. However, the script later moved the day high at 470.07, up 2.13%. The company’s stock has a 5-day price change of 2.60% and 24.28% over the past three months. BIO shares are trading 11.07% year to date (YTD), with the 12-month market performance down to -20.49% lower. It has a 12-month low price of $344.63 and touched a high of $670.61 over the same period. BIO has an average intraday trading volume of 222.91K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.96%, 11.38%, and -0.88% respectively.
Institutional ownership of Bio-Rad Laboratories Inc. (NYSE: BIO) shares accounts for 80.50% of the company’s 29.73M shares outstanding. Mutual fund holders own 37.70%, while other institutional holders and individual stakeholders account for 43.81% and 26.45% respectively.
It has a market capitalization of $13.49B and a beta (3y monthly) value of 0.90. The earnings-per-share (ttm) stands at -$201.80. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.46% over the week and 3.15% over the month.
Analysts forecast that Bio-Rad Laboratories Inc. (BIO) will achieve an EPS of $3.38 for the current quarter, $4.01 for the next quarter and $15.43 for 2023. The lowest estimate earnings-per-share for the quarter is $3.19 while analysts give the company a high EPS estimate of $3.47. Comparatively, EPS for the current quarter was $3.21 a year ago. Earnings per share for the fiscal year are expected to increase by 11.40%, and 5.47% over the next financial year. EPS should shrink at an annualized rate of 17.80% over the next five years, compared to 176.00% over the past 5-year period.
Looking at the support for the BIO, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on December 07, 2022, with the firm’s price target at $565. Credit Suisse coverage for the Bio-Rad Laboratories Inc. (BIO) stock in a research note released on August 25, 2022 offered a Outperform rating with a price target of $715. Citigroup was of a view on January 28, 2022 that the stock is Buy, while Wells Fargo gave the stock Overweight rating on January 08, 2020, issuing a price target of $430. Citigroup on their part issued Buy rating on January 07, 2020.
