Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Free Report) has been assigned a consensus rating of “Hold” from the five research firms that are covering the firm, 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 target among brokers that have issued ratings on the stock in the last year is $343.33.
A number of brokerages have issued reports on BIO. Citigroup boosted their target price on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their price target on Bio-Rad Laboratories from $320.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Bio-Rad Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their price objective on 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.
Read Our Latest Stock Report on Bio-Rad Laboratories
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in BIO. Kestra Advisory Services LLC boosted its stake in Bio-Rad Laboratories by 11.0% during the third quarter. Kestra Advisory Services LLC now owns 911 shares of the medical research company’s stock valued at $344,000 after buying an additional 90 shares during the period. Provenance Wealth Advisors LLC purchased a new position in Bio-Rad Laboratories during the third quarter worth about $327,000. Oregon Public Employees Retirement Fund grew its position in Bio-Rad Laboratories by 2.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 3,808 shares of the medical research company’s stock worth $1,438,000 after buying an additional 86 shares in the last quarter. North Dakota State Investment Board bought a new position in Bio-Rad Laboratories in the 3rd quarter worth about $210,000. Finally, Signaturefd LLC increased its stake in Bio-Rad Laboratories by 51.7% in the 3rd quarter. Signaturefd LLC now owns 437 shares of the medical research company’s stock worth $165,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.
Bio-Rad Laboratories Trading Down 1.8%
Shares of BIO opened at $365.57 on Tuesday. The business has a 50-day moving average of $374.65 and a 200 day moving average of $314.32. Bio-Rad Laboratories has a fifty-two week low of $236.73 and a fifty-two week high of $396.23. The firm has a market cap of $9.78 billion, a P/E ratio of 44.31 and a beta of 1.07. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.33 and a current ratio of 3.14.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last issued its earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $651.00 million during the quarter, compared to analyst estimates of $623.99 million. During the same quarter last year, the business earned $2.61 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts forecast that Bio-Rad Laboratories will post 9.71 EPS for the current year.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc develops, manufactures and markets products and systems used in life science research and clinical diagnostics. Its life science portfolio includes laboratory instruments, reagents, software and consumables used in areas such as genomics, proteomics, cell biology, biopharmaceutical development and quality control.
The company’s clinical diagnostics business provides systems, reagents and software for blood typing, infectious disease testing, diabetes monitoring, quality control and other diagnostic applications.
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