Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $247.53, but opened at $274.72. Bio-Rad Laboratories shares last traded at $273.8710, with a volume of 133,498 shares trading hands.
Analysts Set New Price Targets
Several brokerages have recently commented on BIO. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Wells Fargo & Company cut their target price on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their target price for the company from $375.00 to $300.00 in a research note on Tuesday, April 7th. Royal Bank Of Canada began coverage on shares of Bio-Rad Laboratories in a research note on Friday, May 15th. They set an “outperform” rating and a $320.00 target price for the company. Finally, Weiss Ratings cut shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $303.33.
Check Out Our Latest Stock Report on Bio-Rad Laboratories
Bio-Rad Laboratories Stock Down 0.4%
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last posted its earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.08). The company had revenue of $592.10 million for the quarter, compared to analysts’ expectations 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 was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.54 earnings per share. On average, analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.32 earnings per share for the current year.
Hedge Funds Weigh In On Bio-Rad Laboratories
Institutional investors and hedge funds have recently made changes to their positions in the business. Sector Gamma AS grew its stake in shares of Bio-Rad Laboratories by 28.0% in the 3rd quarter. Sector Gamma AS now owns 22,827 shares of the medical research company’s stock worth $6,400,000 after buying an additional 4,998 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Bio-Rad Laboratories by 67.1% in the 3rd quarter. Natixis Advisors LLC now owns 65,069 shares of the medical research company’s stock worth $18,245,000 after buying an additional 26,119 shares in the last quarter. Mangrove Partners IM LLC purchased a new position in shares of Bio-Rad Laboratories in the 3rd quarter worth $35,568,000. Gotham Asset Management LLC grew its stake in shares of Bio-Rad Laboratories by 41.8% in the 3rd quarter. Gotham Asset Management LLC now owns 124,626 shares of the medical research company’s stock worth $34,944,000 after buying an additional 36,763 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Bio-Rad Laboratories by 461.0% in the 3rd quarter. TD Asset Management Inc now owns 8,988 shares of the medical research company’s stock worth $2,520,000 after buying an additional 7,386 shares in the last quarter. 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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