Bio-Rad Laboratories, Inc. (NYSE:BIO) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIOGet Rating) have been assigned a consensus rating of “Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $751.50.

Several analysts recently commented on the stock. Jefferies Financial Group restated a “buy” rating and set a $700.00 price target on shares of Bio-Rad Laboratories in a research report on Friday. TheStreet lowered shares of Bio-Rad Laboratories from a “b-” rating to a “c+” rating in a research report on Thursday. StockNews.com assumed coverage on shares of Bio-Rad Laboratories in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup lifted their target price on shares of Bio-Rad Laboratories from $750.00 to $800.00 in a research report on Friday, February 11th. Finally, Zacks Investment Research upgraded shares of Bio-Rad Laboratories from a “sell” rating to a “hold” rating and set a $576.00 target price on the stock in a research report on Monday, April 18th.

BIO stock opened at $512.06 on Friday. The firm has a market cap of $15.33 billion, a PE ratio of -104.93 and a beta of 0.91. The firm’s fifty day moving average is $565.92 and its 200 day moving average is $655.12. Bio-Rad Laboratories has a one year low of $493.37 and a one year high of $832.70.

Bio-Rad Laboratories (NYSE:BIOGet Rating) last released its quarterly earnings results on Thursday, April 28th. The medical research company reported $4.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.80 by $2.14. The company had revenue of $700.10 million for the quarter, compared to analyst estimates of $678.00 million. Bio-Rad Laboratories had a net margin of 145.28% and a return on equity of 3.70%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the business earned $5.21 earnings per share. Research analysts predict that Bio-Rad Laboratories will post 13.8 EPS for the current year.

Several large investors have recently bought and sold shares of BIO. FMR LLC lifted its stake in shares of Bio-Rad Laboratories by 12.7% in the first quarter. FMR LLC now owns 182,762 shares of the medical research company’s stock worth $55,867,000 after buying an additional 20,560 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Bio-Rad Laboratories by 14.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 1,638 shares of the medical research company’s stock worth $1,222,000 after buying an additional 201 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Bio-Rad Laboratories by 6.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,355 shares of the medical research company’s stock worth $1,011,000 after buying an additional 81 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Bio-Rad Laboratories by 7.5% in the third quarter. Van ECK Associates Corp now owns 1,257 shares of the medical research company’s stock worth $938,000 after buying an additional 88 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Bio-Rad Laboratories by 3.3% in the third quarter. Treasurer of the State of North Carolina now owns 7,952 shares of the medical research company’s stock worth $5,932,000 after buying an additional 255 shares in the last quarter. 64.58% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Company Profile (Get Rating)

Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.

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