Brokerages Set Bio-Rad Laboratories, Inc. (NYSE:BIO) Target Price at $333.50

Bio-Rad Laboratories, Inc. (NYSE:BIO) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $333.50.

A number of equities analysts recently weighed in on BIO shares. Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Royal Bank Of Canada upped their price target on Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, Wells Fargo & Company upped their price target on Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several large investors have recently bought and sold shares of the company. First Eagle Investment Management LLC increased its stake in Bio-Rad Laboratories by 60.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,517,313 shares of the medical research company’s stock worth $607,478,000 after buying an additional 951,123 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Bio-Rad Laboratories by 17.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 877,040 shares of the medical research company’s stock worth $213,608,000 after buying an additional 130,921 shares in the last quarter. Ariel Investments LLC increased its stake in Bio-Rad Laboratories by 13.0% during the 2nd quarter. Ariel Investments LLC now owns 818,624 shares of the medical research company’s stock worth $197,550,000 after buying an additional 93,964 shares in the last quarter. Bank of America Corp DE increased its stake in Bio-Rad Laboratories by 5.0% during the 2nd quarter. Bank of America Corp DE now owns 452,133 shares of the medical research company’s stock worth $109,109,000 after buying an additional 21,594 shares in the last quarter. Finally, First Pacific Advisors LP increased its stake in Bio-Rad Laboratories by 3.9% during the 2nd quarter. First Pacific Advisors LP now owns 386,949 shares of the medical research company’s stock worth $93,379,000 after buying an additional 14,394 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $275.85 on Monday. The stock has a market cap of $7.46 billion, a PE ratio of 23.52 and a beta of 0.95. The business has a 50-day simple moving average of $277.13 and a 200-day simple moving average of $253.19. The company has a quick ratio of 3.67, a current ratio of 5.12 and a debt-to-equity ratio of 0.17. Bio-Rad Laboratories has a 52-week low of $211.43 and a 52-week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.68. The business had revenue of $651.60 million during the quarter, compared to analysts’ expectations of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.11 EPS. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, equities analysts expect that Bio-Rad Laboratories will post 10.81 EPS for the current year.

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.