Bio-Rad Laboratories, Inc. (NYSE:BIO) Given Consensus Recommendation of “Hold” by Brokerages

Bio-Rad Laboratories, Inc. (NYSE:BIO) has earned a consensus recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat reports. One investment 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 12 month target price among brokerages that have issued a report on the stock in the last year is $358.50.

Several analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research report on Monday, December 29th. Citigroup boosted their price target on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th.

Hedge Funds Weigh In On Bio-Rad Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in BIO. Quent Capital LLC bought a new position in shares of Bio-Rad Laboratories in the 3rd quarter valued at about $25,000. Danske Bank A S acquired a new stake in Bio-Rad Laboratories in the 4th quarter valued at about $30,000. Farther Finance Advisors LLC increased its position in Bio-Rad Laboratories by 52.9% during the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock worth $29,000 after buying an additional 36 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Bio-Rad Laboratories by 3,633.3% in 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 buying an additional 109 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Bio-Rad Laboratories by 115.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after acquiring an additional 76 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Bio-Rad Laboratories Stock Performance

BIO stock opened at $270.94 on Thursday. Bio-Rad Laboratories has a 1-year low of $211.43 and a 1-year high of $343.12. The company has a current ratio of 5.62, a quick ratio of 4.19 and a debt-to-equity ratio of 0.16. The firm has a market cap of $7.31 billion, a PE ratio of 9.71 and a beta of 1.18. The business’s 50-day moving average price is $302.71 and its two-hundred day moving average price is $301.28.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, February 12th. The medical research company reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.06). Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 29.42%.The business had revenue of $693.20 million for the quarter, compared to analyst estimates of $694.64 million. During the same period in the prior year, the business earned $2.90 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that Bio-Rad Laboratories will post 10.81 earnings per share for the current 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.