In a recent SEC disclosure, First Eagle Investment Management revealed it has doubled its position in life sciences and diagnostics company Bio-Rad Laboratories. The asset manager increased its holding by over 100%, purchasing an additional 2.6 million shares to bring its total to 5.21 million. This trade elevated the reported value of First Eagle's stake to $1.53 billion, making it a significant position in its portfolio.
The 13F filing, made public on August 24, reflects trading activity that occurred during the second quarter, which ended June 30. During that period, Bio-Rad announced a global restructuring plan aimed at improving profitability. The company's Q2 results showed flat year-over-year revenue, with growth in its Clinical Diagnostics segment being offset by softness in Life Sciences.