Zacks Research upgraded shares of Bio-Rad Laboratories (NYSE:BIO – Free Report) from a strong sell rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.
Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada boosted their price target on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Citigroup boosted their target price on Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Wells Fargo & Company raised their price target on Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Bio-Rad Laboratories in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $343.33.
Check Out Our Latest Stock Report on BIO
Bio-Rad Laboratories Price Performance
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The medical research company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.87. The firm had revenue of $651.00 million for the quarter, compared to the consensus estimate of $623.99 million. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.61 earnings per share. Equities research analysts expect that Bio-Rad Laboratories will post 9.14 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Westport Asset Management Inc. bought a new position in Bio-Rad Laboratories in the 2nd quarter worth $881,000. Assenagon Asset Management S.A. boosted its stake in Bio-Rad Laboratories by 57.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 233,227 shares of the medical research company’s stock valued at $68,478,000 after purchasing an additional 85,393 shares during the period. Empowered Funds LLC boosted its stake in Bio-Rad Laboratories by 38.0% during the 1st quarter. Empowered Funds LLC now owns 2,168 shares of the medical research company’s stock valued at $604,000 after purchasing an additional 597 shares during the period. Amundi grew its holdings in Bio-Rad Laboratories by 1,763.4% in the 1st quarter. Amundi now owns 38,778 shares of the medical research company’s stock valued at $10,809,000 after buying an additional 36,697 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Bio-Rad Laboratories by 22.9% in the 1st quarter. California State Teachers Retirement System now owns 21,932 shares of the medical research company’s stock worth $6,114,000 after buying an additional 4,082 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.
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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