Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $367.21 and last traded at $365.6340, with a volume of 18684 shares changing hands. The stock had previously closed at $352.69.
Analyst Ratings Changes
A number of brokerages have issued reports on BIO. Citigroup upped their price objective on Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday. Wells Fargo & Company boosted their target price on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada raised their price target on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Zacks Research raised shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Bio-Rad Laboratories currently has a consensus rating of “Hold” and an average target price of $343.33.
Get Our Latest Analysis on BIO
Bio-Rad Laboratories Trading Up 3.5%
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (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 analysts’ expectations 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 for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $2.61 EPS. On average, research analysts forecast that Bio-Rad Laboratories, Inc. will post 9.14 EPS for the current year.
Institutional Trading of Bio-Rad Laboratories
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Danske Bank A S purchased a new position in Bio-Rad Laboratories in the 4th quarter valued at about $30,000. Hollencrest Capital Management purchased a new stake in Bio-Rad Laboratories during the 1st quarter worth approximately $28,000. Geneos Wealth Management Inc. raised its holdings 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 acquiring an additional 76 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $47,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Bio-Rad Laboratories by 76.9% in the fourth quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock valued at $56,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.
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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