Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $358.50 Consensus Target Price from Brokerages
by Michael Walen · The Markets DailyBio-Rad Laboratories, Inc. (NYSE:BIO – Get Free Report) has been given a consensus recommendation of “Hold” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $358.50.
Several equities research analysts have weighed in on BIO shares. Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research note on Monday, December 29th.
Check Out Our Latest Analysis on BIO
Institutional Trading of Bio-Rad Laboratories
Institutional investors have recently bought and sold shares of the stock. Quent Capital LLC bought a new position in Bio-Rad Laboratories during the third quarter valued at $25,000. Farther Finance Advisors LLC raised its stake in shares of Bio-Rad Laboratories by 52.9% in the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 36 shares during the period. Danske Bank A S bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth about $30,000. Geneos Wealth Management Inc. boosted its stake 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 worth $34,000 after purchasing an additional 76 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Bio-Rad Laboratories during the 4th quarter worth about $47,000. 65.24% of the stock is currently owned by institutional investors.
Bio-Rad Laboratories Price Performance
BIO stock opened at $264.24 on Monday. Bio-Rad Laboratories has a 52 week low of $211.43 and a 52 week high of $343.12. The firm has a market capitalization of $7.13 billion, a P/E ratio of 9.47 and a beta of 1.18. The company has a fifty day simple moving average of $286.35 and a two-hundred day simple moving average of $299.30. The company has a quick ratio of 4.19, a current ratio of 5.62 and a debt-to-equity ratio of 0.16.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last posted its earnings results on Thursday, February 12th. The medical research company reported $2.51 earnings per share 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 business had revenue of $693.20 million during the quarter, compared to the consensus estimate of $694.64 million. During the same quarter last year, the firm earned $2.90 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts anticipate that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.
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.