10 Best Organ Transplant and Diagnosis Stocks To Buy Now

5. Bio-Rad Laboratories, Inc. (NYSE:BIO)

Market Cap as of August 1: $9.49 Billion

Hedge Funds Holding Stakes: 42

Hercules California-based Bio-Rad Laboratories, Inc. (NYSE:BIO) manufactures and distributes life sciences research and clinical diagnostics products. The company has also made a name for itself in the development of data analysis software for tissue typing and monitoring of transplant recipients. Recently, Bio-Rad Laboratories, Inc. (NYSE:BIO) has inked a strategic partnership with Oconcyte Corporation to develop and commercialize transplant monitoring products.

While Bio-Rad Laboratories, Inc. (NYSE:BIO) is flat for the year, it generated $2.67 billion in sales in 2023. Insider Monkey Database indicates that the number of hedge funds holding stakes in the organ transplant stock dropped to 42 in Q1 2024 from 50 as of the end of 2023.

Longleaf Partners Fund stated the following regarding Bio-Rad Laboratories, Inc. (NYSE:BIO) in its Q2 2024 investor letter:

“Bio-Rad Laboratories, Inc. (NYSE:BIO) – Life sciences company Bio-Rad was the top detractor in the quarter. The company was one of our new investments last year, and so far, we have been early on our expectations for their life sciences business to return to more normal pre-COVID growth trends. We still believe that growth tailwinds are delayed, not derailed, and there have been no new material threats to Bio-Rad’s competitive position since we established our position last year. We are encouraged by the company’s use of a strong balance sheet to repurchase shares opportunistically. Current margins are below peer levels, suggesting potential for improvement, thereby further increasing FCF per share. The market also continues to undervalue their multi-billion-dollar stake in Sartorius. We anticipate Bio-Rad will return to solid growth. Many of its peers are valued as if this growth is already occurring, even in this tough industry environment. While we can’t predict the exact timing, we believe this recovery will happen sooner than the market expects.”