Wells Fargo & Company Cuts Bio-Rad Laboratories (NYSE:BIO) Price Target to $270.00

Bio-Rad Laboratories (NYSE:BIO) had its target price cut by Wells Fargo & Company from $320.00 to $270.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the medical research company’s stock.

Several other brokerages have also recently issued reports on BIO. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $380.20.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $238.02 on Thursday. Bio-Rad Laboratories has a 1-year low of $215.38 and a 1-year high of $387.99. The company’s 50-day moving average is $255.62 and its 200 day moving average is $311.59. The firm has a market capitalization of $6.67 billion, a P/E ratio of -3.66 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. Research analysts forecast that Bio-Rad Laboratories will post 10.81 EPS for the current year.

Institutional Trading of Bio-Rad Laboratories

Large investors have recently bought and sold shares of the stock. Retirement Systems of Alabama grew its stake in Bio-Rad Laboratories by 416.9% during the 3rd quarter. Retirement Systems of Alabama now owns 23,260 shares of the medical research company’s stock valued at $7,782,000 after purchasing an additional 18,760 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Bio-Rad Laboratories by 95.6% in the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock worth $14,836,000 after buying an additional 21,669 shares during the period. GAMMA Investing LLC raised its position in Bio-Rad Laboratories by 24.3% during the 4th quarter. GAMMA Investing LLC now owns 665 shares of the medical research company’s stock worth $218,000 after buying an additional 130 shares during the last quarter. Diversified Trust Co purchased a new position in Bio-Rad Laboratories during the 4th quarter worth approximately $958,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Bio-Rad Laboratories by 4.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 7,824 shares of the medical research company’s stock valued at $2,570,000 after acquiring an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.