Analysts Set Bio-Rad Laboratories, Inc. (NYSE:BIO) Price Target at $339.75
by Renee Jackson · The Cerbat GemBio-Rad Laboratories, Inc. (NYSE:BIO – Get Free Report) has earned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $339.75.
A number of research firms have issued reports on BIO. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $375.00 to $300.00 in a research note on Tuesday, April 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th.
Read Our Latest Analysis on BIO
Bio-Rad Laboratories Stock Performance
NYSE:BIO opened at $279.35 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.62 and a quick ratio of 4.19. Bio-Rad Laboratories has a 1 year low of $211.43 and a 1 year high of $343.12. The stock’s 50 day simple moving average is $276.59 and its two-hundred day simple moving average is $298.41. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 10.01 and a beta of 1.16.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The medical research company reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.06). Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 29.42%.The firm had revenue of $693.20 million during the quarter, compared to the consensus estimate of $694.64 million. During the same period in the previous year, the firm earned $2.90 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.
Institutional Trading of Bio-Rad Laboratories
Large investors have recently made changes to their positions in the business. Quent Capital LLC bought a new position in shares of Bio-Rad Laboratories during the 3rd quarter valued at approximately $25,000. Danske Bank A S bought a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at approximately $30,000. Farther Finance Advisors LLC increased its position in shares of Bio-Rad Laboratories by 52.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 36 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Bio-Rad Laboratories by 115.2% during 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 during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at approximately $47,000. 65.24% of the stock is currently owned by institutional investors.
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.