Wells Fargo raised its Bio-Rad Laboratories price target to $310 from $290, signaling confidence in the life science and diagnostics business. Activist investor Elliott Investment Management has amassed a significant stake and may press for strategic changes around Bio-Rad’s $5 billion Sartorius holding after shares plunged over 70%.
On May 25, Bio-Rad Laboratories received a price target increase to $310 from $290 by Wells Fargo, highlighting confidence in its life science research and clinical diagnostics segments. This new target implies an approximate 8% upside from the $287.74 share price at the time of the update.
Elliott Investment Management has acquired a sizable position in Bio-Rad after shares tumbled more than 70% from their late-2021 peak. The activist stake positions Elliott to advocate for operational or structural changes aimed at boosting shareholder value.
Bio-Rad’s $5 billion investment in Sartorius accounts for a significant portion of its $7.78 billion market capitalization and is also held by Elliott. The dual ownership could prompt calls to optimize the relationship between Bio-Rad and Sartorius to enhance financial performance.
