Significant activity has been observed around Bio-Rad Laboratories, Inc. (NYSE:BIO) stocks. While Duality Advisers LP and Nordea Investment Management AB have offloaded shares, other firms including Commonwealth Equity Services LLC and DAVENPORT & Co LLC have made fresh investments in the company. Analyst consensus rates the stock as a Moderate Buy, while there has been a considerable increase in short interest. Although Bio-Rad has reiterated its 2024 revenue growth outlook, the stocks slipped. A consecutive downgrade by StockNews.com from Buy to Hold following a 14% decline, further raised concerns. Despite analysts urging investors to look closely at the stock valued now at $325, its three-year losses have reached 53%. Despite this, first-quarter earnings of 2024 surpassed estimates but with decreased margins. Oncocyte's stocks rallied post-market announcing their partnership with Bio-Rad but Bio-Rad's revenues failed to convince investors entirely, leading to significant short interest. It maintains a healthy balance sheet and even announced a $500M share repurchase program. The recent fall in the company's stock price has shed light on its possible undervalued status, as growth potential is seen despite Bio-Rad's S&P 500 stocks showing the biggest selloff in 36 years after disappointing results. Future optimism comes with the company's relentless growth supporting a bullish outlook.
Bio-Rad Laboratories Stocks News Analytics from Thu, 23 Feb 2012 08:00:00 GMT to Sun, 14 Jul 2024 11:43:27 GMT - Innovation 5 - Information 8 - Rumor -3
