Billionaire Cliff Asness Was Relentlessly Buying Meta Platforms (META) and These 4 Stocks in Q1

4. Bio-Rad Laboratories, Inc. Class A Common Stock (NYSE:BIO)

Value of AQR Capital Management‘s 13F Position: $164 million

Number of Hedge Fund Shareholders: 46

There was a 15% increase in the number of hedge funds long Bio-Rad Laboratories, Inc. Class A Common Stock (NYSE:BIO) during Q1. AQR Capital was also buying up shares of the specialized clinical products developer, raising the size of its position by 26% to 290,598 shares.

Bio-Rad Laboratories, Inc. Class A Common Stock (NYSE:BIO) recently held an investor’s day in New York City, where it detailed the company’s medium-term growth targets. The biotech expects to grow core revenue CAGR by 9% annually through 2025, while achieving an adjusted EBITDA margin of 28% by 2025.

Bio-Rad Laboratories, Inc. Class A Common Stock (NYSE:BIO) had a strong Q1 even as Covid-related tailwinds began to subside. The company earned $4.94 per share, crushing estimates that had called for just $3.40 in EPS. Revenue of $700.1 million also handily topped estimates by $25 million, thanks in part to strong growth in its life sciences department.