Bio-Rad Laboratories, Inc. (NYSE:BIO) Short Interest Update

Posted by on Jun 1st, 2022

Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 408,000 shares, a growth of 22.6% from the April 30th total of 332,800 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average trading volume of 231,900 shares, the short-interest ratio is presently 1.8 days.

A number of research analysts have recently issued reports on BIO shares. Zacks Investment Research upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating and set a $526.00 target price for the company in a research note on Wednesday, May 4th. TheStreet cut shares of Bio-Rad Laboratories from a “b-” rating to a “c+” rating in a research report on Thursday, April 28th. StockNews.com initiated coverage on Bio-Rad Laboratories in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Citigroup decreased their price target on Bio-Rad Laboratories from $800.00 to $750.00 in a report on Monday, May 2nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $700.00 price target on shares of Bio-Rad Laboratories in a report on Friday, April 29th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $726.50.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaCrest Capital Management LLC raised its position in shares of Bio-Rad Laboratories by 836.1% during the fourth quarter. AlphaCrest Capital Management LLC now owns 2,696 shares of the medical research company’s stock worth $2,037,000 after purchasing an additional 2,408 shares during the period. HighTower Advisors LLC raised its position in Bio-Rad Laboratories by 20.0% in the 3rd quarter. HighTower Advisors LLC now owns 3,062 shares of the medical research company’s stock valued at $2,265,000 after buying an additional 511 shares during the last quarter. Hancock Whitney Corp raised its position in Bio-Rad Laboratories by 1.7% in the 4th quarter. Hancock Whitney Corp now owns 13,292 shares of the medical research company’s stock valued at $10,043,000 after buying an additional 222 shares during the last quarter. Globeflex Capital L P acquired a new stake in Bio-Rad Laboratories in the 4th quarter valued at approximately $178,000. Finally, JPMorgan Chase & Co. raised its position in Bio-Rad Laboratories by 1.9% in the 4th quarter. JPMorgan Chase & Co. now owns 30,739 shares of the medical research company’s stock valued at $23,225,000 after buying an additional 573 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors.

BIO traded down $10.00 during midday trading on Wednesday, reaching $527.79. 215,187 shares of the company were exchanged, compared to its average volume of 234,019. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.16 and a current ratio of 5.10. Bio-Rad Laboratories has a one year low of $468.86 and a one year high of $832.70. The stock has a market capitalization of $15.80 billion, a P/E ratio of -110.20 and a beta of 0.93. The stock’s 50-day simple moving average is $536.02 and its 200 day simple moving average is $617.04.

Bio-Rad Laboratories (NYSE:BIO – Get Rating) last issued its earnings results on Thursday, April 28th. The medical research company reported $4.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $2.14. Bio-Rad Laboratories had a positive return on equity of 3.66% and a negative net margin of 3.49%. The firm had revenue of $700.10 million for the quarter, compared to analysts’ expectations of $678.00 million. During the same quarter last year, the business earned $5.21 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. On average, research analysts anticipate that Bio-Rad Laboratories will post 14.2 earnings per share for the current year.

About Bio-Rad Laboratories (Get Rating)

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 a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.

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