Bio-Rad Laboratories (NYSE:BIO – Get Free Report) was upgraded by investment analysts at Royal Bank Of Canada to a “moderate buy” rating in a research note issued on Thursday,Zacks.com reports.
A number of other brokerages have also commented on BIO. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their price target for the company from $375.00 to $300.00 in a research note on Tuesday, April 7th. Weiss Ratings downgraded shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Wells Fargo & Company cut their price objective on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $303.33.
Check Out Our Latest Stock Analysis on Bio-Rad Laboratories
Bio-Rad Laboratories Stock Performance
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). The business had revenue of $592.10 million for the quarter, compared to the consensus estimate of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.54 EPS. Analysts forecast that Bio-Rad Laboratories will post 10.32 EPS for the current fiscal year.
Hedge Funds Weigh In On Bio-Rad Laboratories
Hedge funds have recently bought and sold shares of the company. Quent Capital LLC purchased a new position in Bio-Rad Laboratories during the 3rd quarter worth $25,000. Hollencrest Capital Management purchased a new position in shares of Bio-Rad Laboratories in the 1st quarter worth about $28,000. Danske Bank A S purchased a new position in shares of Bio-Rad Laboratories in the 4th quarter worth about $30,000. Geneos Wealth Management Inc. boosted its holdings in shares of Bio-Rad Laboratories by 115.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after buying an additional 76 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Bio-Rad Laboratories in the 4th quarter worth about $47,000. 65.24% of the stock is owned by hedge funds and other institutional investors.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.
Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.
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