Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 1.58MM shares of Bio-Rad Laboratories, Inc. (BIO). This represents 6.4% of the company.
In their previous filing dated February 1, 2022 they reported 1.77MM shares and 7.10% of the company, a decrease in shares of 10.51% and a decrease in total ownership of 0.70% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 28.96% Upside
As of January 30, 2023, the average one-year price target for Bio-Rad Laboratories is $602.82. The forecasts range from a low of $555.50 to a high of $672.00. The average price target represents an increase of 28.96% from its latest reported closing price of $467.46.
The projected annual revenue for Bio-Rad Laboratories is $2,939MM, an increase of 4.79%. The projected annual EPS is $15.37.
Fund Sentiment
There are 1112 funds or institutions reporting positions in Bio-Rad Laboratories. This is a decrease of 62 owner(s) or 5.28%.
Average portfolio weight of all funds dedicated to US:BIO is 0.2202%, a decrease of 6.3579%. Total shares owned by institutions increased in the last three months by 2.06% to 21,690K shares.
What are large shareholders doing?
Veritas Asset Management LLP holds 996,621 shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 766,762 shares, representing an increase of 23.06%. The firm increased its portfolio allocation in BIO by 21.40% over the last quarter.
Brown Advisory holds 775,712 shares representing 2.60% ownership of the company. In it's prior filing, the firm reported owning 581,816 shares, representing an increase of 25.00%. The firm increased its portfolio allocation in BIO by 19.98% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 624,466 shares representing 2.09% ownership of the company. In it's prior filing, the firm reported owning 621,896 shares, representing an increase of 0.41%. The firm decreased its portfolio allocation in BIO by 11.79% over the last quarter.
Alliancebernstein holds 533,765 shares representing 1.79% ownership of the company. In it's prior filing, the firm reported owning 616,316 shares, representing a decrease of 15.47%. The firm decreased its portfolio allocation in BIO by 34.49% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 485,877 shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 479,273 shares, representing an increase of 1.36%. The firm decreased its portfolio allocation in BIO by 11.66% over the last quarter.
Bio-Rad Laboratories Background Information
(This description is provided by the company.)
Bio-Rad Laboratories, Inc. is a global leader in developing, manufacturing, and marketing a broad range of innovative products for the life science research and clinical diagnostic markets. With a focus on quality and customer service for over 65 years, its products advance the discovery process and improve healthcare. Bio-Rad's customers are university and research institutions, hospitals, public health and commercial laboratories, biotechnology and pharmaceutical companies, as well as applied laboratories that include food safety and environmental quality. Founded in 1952, Bio-Rad is based in Hercules, California, and has a global network of operations with more than 7,800 employees worldwide. Bio-Rad had revenues exceeding $2.5 billion in 2020.
This story originally appeared on Fintel.
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