Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Free Report) have earned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $343.3333.
A number of analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Citigroup boosted their price target on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday. Wells Fargo & Company lifted their target price on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Finally, Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th.
Get Our Latest Stock Analysis on Bio-Rad Laboratories
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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.87. Bio-Rad Laboratories had a return on equity of 3.54% and a net margin of 8.59%.The business had revenue of $651.00 million for the quarter, compared to analysts’ expectations of $623.99 million. During the same period in the previous year, the business posted $2.61 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Analysts anticipate that Bio-Rad Laboratories will post 9.14 earnings per share for the current year.
Institutional Trading of Bio-Rad Laboratories
A number of hedge funds have recently modified their holdings of the business. First Eagle Investment Management LLC grew its stake in shares of Bio-Rad Laboratories by 2.0% in the fourth quarter. First Eagle Investment Management LLC now owns 2,570,473 shares of the medical research company’s stock worth $778,828,000 after acquiring an additional 50,154 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Bio-Rad Laboratories by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,089,323 shares of the medical research company’s stock worth $303,637,000 after purchasing an additional 12,251 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Bio-Rad Laboratories by 18.2% in the fourth quarter. Capital Research Global Investors now owns 494,472 shares of the medical research company’s stock worth $149,820,000 after buying an additional 76,117 shares during the last quarter. Bank of America Corp DE grew its position in shares of Bio-Rad Laboratories by 1.7% during the 3rd quarter. Bank of America Corp DE now owns 459,887 shares of the medical research company’s stock valued at $128,948,000 after acquiring an additional 7,754 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Bio-Rad Laboratories by 2,271.3% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 397,171 shares of the medical research company’s stock valued at $111,363,000 after purchasing an additional 380,422 shares during the period. 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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