UBS Group Cuts Bio-Rad Laboratories (NYSE:BIO) Price Target to $310.00

Bio-Rad Laboratories (NYSE:BIO) had its price target reduced by UBS Group from $355.00 to $310.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other equities analysts also recently weighed in on BIO. Wells Fargo & Company dropped their target price on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Royal Bank of Canada reduced their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Citigroup dropped their price target on Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $327.40.

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $236.83 on Friday. Bio-Rad Laboratories has a 52-week low of $215.38 and a 52-week high of $387.99. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $6.63 billion, a PE ratio of -3.64 and a beta of 1.12. The company has a 50-day simple moving average of $246.93 and a 200-day simple moving average of $304.68.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.81. The firm had revenue of $585.40 million during the quarter, compared to analysts’ expectations of $573.01 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. Bio-Rad Laboratories’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.30 earnings per share. Equities research analysts predict that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.

Institutional Trading of Bio-Rad Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of BIO. Venturi Wealth Management LLC lifted its stake in shares of Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after purchasing an additional 87 shares during the period. GeoWealth Management LLC boosted its stake in Bio-Rad Laboratories by 342.9% in the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock worth $31,000 after buying an additional 72 shares during the last quarter. Picton Mahoney Asset Management grew its holdings in Bio-Rad Laboratories by 55.6% in the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock valued at $32,000 after buying an additional 35 shares during the period. Asset Planning Inc purchased a new stake in Bio-Rad Laboratories in the 4th quarter valued at about $33,000. Finally, Curat Global LLC purchased a new position in shares of Bio-Rad Laboratories during the 1st quarter worth about $34,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

About Bio-Rad Laboratories

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.