Bio-Rad Laboratories (NYSE:BIO) Given New $245.00 Price Target at Wells Fargo & Company

Bio-Rad Laboratories (NYSE:BIO) had its target price decreased by Wells Fargo & Company from $260.00 to $245.00 in a research report report published on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical research company’s stock.

Several other equities analysts also recently weighed in on the company. Royal Bank of Canada cut their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. UBS Group cut their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Citigroup reduced their target price on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Wall Street Zen cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $324.25.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $225.84 on Monday. Bio-Rad Laboratories has a 52-week low of $211.43 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 firm’s fifty day moving average is $236.16 and its 200 day moving average is $284.32. The company has a market cap of $6.15 billion, a price-to-earnings ratio of -3.47 and a beta of 0.93.

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

Institutional Trading of Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of BIO. Vanguard Group Inc. boosted its stake in shares of Bio-Rad Laboratories by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,919,808 shares of the medical research company’s stock valued at $630,676,000 after purchasing an additional 12,168 shares during the period. Wealthfront Advisers LLC bought a new stake in Bio-Rad Laboratories during the 4th quarter valued at about $342,686,000. Dimensional Fund Advisors LP boosted its position in Bio-Rad Laboratories by 17.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 877,040 shares of the medical research company’s stock valued at $213,608,000 after buying an additional 130,921 shares during the period. Ariel Investments LLC boosted its position in Bio-Rad Laboratories by 29.3% in the 1st quarter. Ariel Investments LLC now owns 724,660 shares of the medical research company’s stock valued at $176,498,000 after buying an additional 164,136 shares during the period. Finally, Earnest Partners LLC grew its stake in Bio-Rad Laboratories by 2.1% in the 4th quarter. Earnest Partners LLC now owns 618,049 shares of the medical research company’s stock worth $203,035,000 after acquiring an additional 12,500 shares in 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.