Citigroup Issues Positive Forecast for Bio-Rad Laboratories (NYSE:BIO) Stock Price

Bio-Rad Laboratories (NYSE:BIO) had its price objective increased by Citigroup from $350.00 to $375.00 in a report released on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the medical research company’s stock.

A number of other analysts also recently weighed in on BIO. Wells Fargo & Company boosted their target price on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a report on Thursday. Royal Bank Of Canada boosted their target price on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Zacks Research upgraded shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Weiss Ratings upgraded shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Wall Street Zen downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bio-Rad Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $358.50.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $304.92 on Thursday. The company’s 50-day moving average price is $298.33 and its 200-day moving average price is $264.59. Bio-Rad Laboratories has a twelve month low of $211.43 and a twelve month high of $387.99. The company has a quick ratio of 3.67, a current ratio of 5.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $8.25 billion, a PE ratio of -12.54 and a beta of 0.97.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Wednesday, October 29th. The medical research company reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.04). Bio-Rad Laboratories had a positive return on equity of 4.18% and a negative net margin of 26.43%.The business had revenue of $653.00 million during the quarter, compared to the consensus estimate of $651.30 million. During the same quarter last year, the firm earned $2.01 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Bio-Rad Laboratories will post 10.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of hedge funds have recently added to or reduced their stakes in BIO. Quent Capital LLC bought a new stake in shares of Bio-Rad Laboratories in the third quarter valued at about $25,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Bio-Rad Laboratories by 3,633.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 112 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 109 shares in the last quarter. Quarry LP bought a new stake in shares of Bio-Rad Laboratories in the first quarter valued at about $29,000. Farther Finance Advisors LLC raised its holdings in shares of Bio-Rad Laboratories by 52.9% in the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 36 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Bio-Rad Laboratories by 115.2% during the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 76 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.