Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Free Report) shares passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $373.71 and traded as high as $384.62. Bio-Rad Laboratories shares last traded at $381.9980, with a volume of 273,157 shares.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on BIO. Wells Fargo & Company boosted their price target on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on Bio-Rad Laboratories from $390.00 to $440.00 and gave the stock an “outperform” rating in a research note on Thursday. Weiss Ratings raised shares of Bio-Rad Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. 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 research note on Wednesday, August 5th. Finally, Zacks Research upgraded shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $366.67.
Check Out Our Latest Analysis on Bio-Rad Laboratories
Bio-Rad Laboratories Stock Up 3.5%
The company has a debt-to-equity ratio of 0.11, a current ratio of 3.18 and a quick ratio of 2.33. The stock’s fifty day simple moving average is $373.71 and its 200-day simple moving average is $315.52. The stock has a market cap of $10.21 billion, a P/E ratio of 10.06 and a beta of 1.06.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last issued its earnings results on Wednesday, November 4th. The medical research company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.42. The company had revenue of $656.40 million during the quarter, compared to the consensus estimate of $649.94 million. Bio-Rad Laboratories had a return on equity of 3.58% and a net margin of 39.45%. Bio-Rad Laboratories’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.26 earnings per share. On average, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.71 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its position in Bio-Rad Laboratories by 37.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 24,006 shares of the medical research company’s stock valued at $9,082,000 after acquiring an additional 6,571 shares during the period. Maryland State Retirement & Pension System raised its stake in Bio-Rad Laboratories by 29.1% during the 3rd quarter. Maryland State Retirement & Pension System now owns 1,140 shares of the medical research company’s stock valued at $431,000 after acquiring an additional 257 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Bio-Rad Laboratories during the 3rd quarter valued at $1,739,000. Lido Advisors LLC acquired a new position in Bio-Rad Laboratories during the 3rd quarter worth $238,000. Finally, Keybank National Association OH boosted its position in Bio-Rad Laboratories by 75.5% during the 3rd quarter. Keybank National Association OH now owns 1,353 shares of the medical research company’s stock worth $511,000 after acquiring an additional 582 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 develops, manufactures, and markets products used in life science research and clinical diagnostics. Founded in 1952 by David and Alice Schwartz, the company is headquartered in Hercules, California, and serves customers around the world.
Through its Life Science segment, Bio-Rad supplies instruments, reagents, and software for areas including cell biology, genomics, protein analysis, and drug discovery. Its products support research at academic institutions, biotechnology and pharmaceutical companies, and other laboratories.
Bio-Rad’s Clinical Diagnostics segment provides testing systems, reagents, and quality-control products for medical laboratories.
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