Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Average Rating of “Hold” from Brokerages

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have been given a consensus rating of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $358.50.

A number of research analysts recently commented on BIO shares. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research report on Monday. Wells Fargo & Company lifted their target price on Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Finally, Citigroup boosted their target price on Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, October 30th.

Insiders Place Their Bets

In related news, EVP James Barry sold 700 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $306.18, for a total value of $214,326.00. Following the sale, the executive vice president directly owned 510 shares of the company’s stock, valued at $156,151.80. This represents a 57.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC purchased a new position in shares of Bio-Rad Laboratories in the 3rd quarter valued at $25,000. Caitong International Asset Management Co. Ltd boosted its position in Bio-Rad Laboratories by 3,633.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 112 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 109 shares in the last quarter. Quarry LP purchased a new position in Bio-Rad Laboratories in the first quarter valued at about $29,000. Farther Finance Advisors LLC grew its stake in Bio-Rad Laboratories by 52.9% in the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 36 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Bio-Rad Laboratories by 115.2% in the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after purchasing an additional 76 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Trading Up 0.3%

BIO stock opened at $304.73 on Wednesday. The firm has a fifty day moving average price of $314.12 and a 200 day moving average price of $287.86. Bio-Rad Laboratories has a fifty-two week low of $211.43 and a fifty-two week high of $373.69. The firm has a market cap of $8.22 billion, a PE ratio of -12.54 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.94 and a current ratio of 5.44.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Wednesday, October 29th. The medical research company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.04). Bio-Rad Laboratories had a negative net margin of 26.43% and a positive return on equity of 4.19%. The business had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $651.30 million. During the same period in the previous year, the company earned $2.01 EPS. Bio-Rad Laboratories’s revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts anticipate that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.