Elliott Targets Bio-Rad as Shares Continue to Struggle

Activist investor Elliott Investment Management has reportedly built a significant stake in Bio-Rad Laboratories Inc. (NYSE: BIO), according to a Wall Street Journal report published Sunday. The hedge fund is expected to push the medical technology company to improve operations and revive its declining stock performance.

While the exact size of Elliott’s investment has not been disclosed, sources familiar with the matter said the firm is preparing to pressure Bio-Rad into making strategic changes aimed at increasing shareholder value. The move places Bio-Rad among the latest healthcare and biotech-related companies facing activist investor scrutiny in 2026.

Bio-Rad Laboratories, known for its life science research and clinical diagnostics products, has faced mounting financial pressure since the COVID-19 pandemic boom faded. During the height of the pandemic, the company saw strong demand for its COVID-19 testing solutions, helping drive its stock price to record highs in 2021. However, demand sharply declined after the pandemic eased, leaving the company searching for new growth drivers.

Bio-Rad stock has fallen roughly 18% so far in 2026 and remains nearly 70% below its pandemic-era peak. Investors have also been concerned about weaker earnings tied to the declining value of Bio-Rad’s investment in German laboratory equipment manufacturer Sartorius AG (F: SATG). Elliott is reportedly also a major investor in Sartorius, adding another layer of strategic interest to its Bio-Rad position.

In addition to investment-related losses, Bio-Rad has struggled with softer demand in China, which has weighed on recent quarterly results. Market analysts believe Elliott may push the company to streamline operations, improve profitability, and unlock value from its existing assets.

The development has drawn attention across Wall Street, as activist investors continue targeting underperforming healthcare and technology firms amid ongoing market volatility in 2026.