Bio-Rad Laboratories (NYSE:BIO) Hits New 12-Month Low at $448.81

Bio-Rad Laboratories, Inc. (NYSE:BIOGet Rating) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $448.81 and last traded at $448.81, with a volume of 552 shares changing hands. The stock had previously closed at $472.75.

Wall Street Analysts Forecast Growth

BIO has been the subject of a number of research reports. Credit Suisse Group started coverage on shares of Bio-Rad Laboratories in a research report on Wednesday, August 24th. They set an “outperform” rating and a $715.00 target price for the company. Citigroup decreased their price objective on shares of Bio-Rad Laboratories from $750.00 to $700.00 and set a “buy” rating for the company in a research report on Friday, July 8th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $705.00.

Bio-Rad Laboratories Stock Down 5.1 %

The firm has a market cap of $13.32 billion, a PE ratio of -6.76 and a beta of 0.99. The business’s 50 day moving average price is $511.87 and its 200 day moving average price is $524.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 5.30 and a quick ratio of 4.22.

Bio-Rad Laboratories (NYSE:BIOGet Rating) last released its earnings results on Thursday, July 28th. The medical research company reported $3.38 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.92. The business had revenue of $691.10 million during the quarter, compared to analysts’ expectations of $664.60 million. Bio-Rad Laboratories had a negative net margin of 67.66% and a positive return on equity of 3.82%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.54 earnings per share. On average, equities research analysts expect that Bio-Rad Laboratories, Inc. will post 14.35 earnings per share for the current year.

Insider Activity at Bio-Rad Laboratories

In related news, CAO Ajit Ramalingam sold 518 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $537.00, for a total transaction of $278,166.00. Following the completion of the sale, the chief accounting officer now owns 98 shares of the company’s stock, valued at approximately $52,626. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 27.40% of the stock is owned by corporate insiders.

Institutional Trading of Bio-Rad Laboratories

Several large investors have recently bought and sold shares of the business. Federated Hermes Inc. grew its stake in Bio-Rad Laboratories by 20.0% during the 2nd quarter. Federated Hermes Inc. now owns 43,989 shares of the medical research company’s stock valued at $21,774,000 after acquiring an additional 7,318 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Bio-Rad Laboratories by 7.5% in the 2nd quarter. Brown Advisory Inc. now owns 582,701 shares of the medical research company’s stock valued at $288,437,000 after purchasing an additional 40,452 shares during the last quarter. Prelude Capital Management LLC acquired a new position in Bio-Rad Laboratories in the 2nd quarter valued at about $1,690,000. Captrust Financial Advisors boosted its holdings in Bio-Rad Laboratories by 6.7% in the 2nd quarter. Captrust Financial Advisors now owns 781 shares of the medical research company’s stock valued at $387,000 after purchasing an additional 49 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in Bio-Rad Laboratories by 17.6% in the 2nd quarter. Macquarie Group Ltd. now owns 2,490 shares of the medical research company’s stock valued at $1,232,000 after purchasing an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Bio-Rad Laboratories Company Profile

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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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