Investment Thesis
We are bullish on Bio-Rad Laboratories (BIO) in light of recent performance coming out of Q2 2020. Shareholders have enjoyed 37.77% in price returns YTD with 5.36% risk to the downside, whilst long-time shareholders have garnered ~250% gain in returns over the past 5 years, to illustrate price momentum over these periods. We are equally as pleased to observe high Sortino ratios over our entire examination period, with a ratio of 6.93 YTD, signifying investors have been adequately rewarded for the relatively low downside risk in price returns; and we feel this trend