Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Free Report)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $298.72 and traded as high as $394.29. Bio-Rad Laboratories shares last traded at $389.18, with a volume of 148,023 shares traded.
Analysts Set New Price Targets
BIO has been the subject of several analyst reports. Weiss Ratings raised shares of Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Citigroup lifted their price target on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Wells Fargo & Company boosted their price objective on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Zacks Research raised shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Royal Bank Of Canada raised their target price on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $343.33.
Bio-Rad Laboratories Stock Performance
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last released its earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.87. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The business had revenue of $651.00 million for the quarter, compared to analysts’ expectations of $623.99 million. During the same period last year, the company earned $2.61 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts expect that Bio-Rad Laboratories, Inc. will post 9.28 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIO. Hollencrest Capital Management acquired a new stake in Bio-Rad Laboratories during the first quarter worth about $28,000. Danske Bank A S acquired a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at about $30,000. Geneos Wealth Management Inc. lifted its stake 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 valued at $34,000 after purchasing an additional 76 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth about $47,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Bio-Rad Laboratories by 76.9% during the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock worth $56,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.
About Bio-Rad Laboratories
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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