Bio-Rad Laboratories, Inc. (NYSE:BIO) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have been given a consensus rating of “Moderate Buy” by the five research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $327.40.

A number of analysts recently issued reports on BIO shares. UBS Group decreased their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Wall Street Zen raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup decreased their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company dropped their price objective on Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Finally, Royal Bank of Canada reduced their price objective on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, May 2nd.

Institutional Trading of Bio-Rad Laboratories

Several hedge funds and other institutional investors have recently modified their holdings of BIO. Blue Trust Inc. raised its holdings in Bio-Rad Laboratories by 7.2% during the 4th quarter. Blue Trust Inc. now owns 1,132 shares of the medical research company’s stock valued at $379,000 after acquiring an additional 76 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Bio-Rad Laboratories by 3.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 900 shares of the medical research company’s stock valued at $296,000 after purchasing an additional 34 shares in the last quarter. DAVENPORT & Co LLC grew its position in shares of Bio-Rad Laboratories by 48.8% in the fourth quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company’s stock valued at $27,817,000 after purchasing an additional 27,780 shares in the last quarter. Mather Group LLC. raised its stake in shares of Bio-Rad Laboratories by 172.8% during the 4th quarter. Mather Group LLC. now owns 461 shares of the medical research company’s stock valued at $151,000 after purchasing an additional 292 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in Bio-Rad Laboratories by 0.7% during the 4th quarter. Retirement Systems of Alabama now owns 23,413 shares of the medical research company’s stock worth $7,691,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

BIO stock opened at $226.75 on Monday. 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 firm has a market cap of $6.17 billion, a PE ratio of -3.49 and a beta of 1.00. The business has a 50 day moving average of $238.95 and a 200-day moving average of $288.59. Bio-Rad Laboratories has a 12-month low of $215.38 and a 12-month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.81. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. The firm had revenue of $585.40 million during the quarter, compared to the consensus estimate of $573.01 million. During the same quarter in the prior year, the company earned $2.30 EPS. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Bio-Rad Laboratories will post 10.81 earnings per share for the current year.

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.