Fintel reports that on October 1, 2024, Citigroup upgraded their outlook for Bio-Rad Laboratories (NYSE:BIO) from Neutral to Buy.
Analyst Price Forecast Suggests 12.81% Upside
As of September 25, 2024, the average one-year price target for Bio-Rad Laboratories is $380.97/share. The forecasts range from a low of $318.15 to a high of $468.30. The average price target represents an increase of 12.81% from its latest reported closing price of $337.71 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Bio-Rad Laboratories is 3,160MM, an increase of 23.31%. The projected annual non-GAAP EPS is 17.72.
What is the Fund Sentiment?
There are 1,005 funds or institutions reporting positions in Bio-Rad Laboratories. This is an decrease of 28 owner(s) or 2.71% in the last quarter. Average portfolio weight of all funds dedicated to BIO is 0.21%, an increase of 17.07%. Total shares owned by institutions increased in the last three months by 16.07% to 23,427K shares. 
The put/call ratio of BIO is 0.51, indicating a bullish outlook.
What are Other Shareholders Doing?
Veritas Asset Management LLP holds 1,129K shares representing 4.95% ownership of the company. In its prior filing, the firm reported owning 1,147K shares , representing a decrease of 1.62%. The firm decreased its portfolio allocation in BIO by 18.94% over the last quarter.
Van Eck Associates holds 659K shares representing 2.89% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
Select Equity Group holds 650K shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 515K shares , representing an increase of 20.76%. The firm increased its portfolio allocation in BIO by 10.89% over the last quarter.
First Eagle Investment Management holds 636K shares representing 2.79% ownership of the company. In its prior filing, the firm reported owning 2K shares , representing an increase of 99.69%. The firm increased its portfolio allocation in BIO by 24,840.81% over the last quarter.
MOAT - VanEck Vectors Morningstar Wide Moat ETF holds 631K shares representing 2.77% ownership of the company.
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.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
