Analysts Set Bio-Rad Laboratories, Inc. (NYSE:BIO) PT at $358.50

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have received a consensus rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $358.50.

BIO has been the topic of several research analyst reports. Wall Street Zen cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research note on Monday, December 29th.

Bio-Rad Laboratories Stock Down 0.4%

Bio-Rad Laboratories stock opened at $268.31 on Monday. Bio-Rad Laboratories has a 12 month low of $211.43 and a 12 month high of $343.12. The stock has a fifty day simple moving average of $288.61 and a two-hundred day simple moving average of $299.64. 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 $7.24 billion, a price-to-earnings ratio of 9.61 and a beta of 1.18.

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

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of large investors have recently added to or reduced their stakes in BIO. Corient Private Wealth LLC boosted its stake in shares of Bio-Rad Laboratories by 30.3% in the 4th quarter. Corient Private Wealth LLC now owns 1,864 shares of the medical research company’s stock worth $565,000 after buying an additional 434 shares during the last quarter. Rehmann Capital Advisory Group purchased a new stake in Bio-Rad Laboratories during the fourth quarter valued at $201,000. Virtu Financial LLC bought a new position in Bio-Rad Laboratories in the fourth quarter valued at about $672,000. Vident Advisory LLC bought a new position in Bio-Rad Laboratories in the fourth quarter valued at about $892,000. Finally, State of Tennessee Department of Treasury boosted its position in Bio-Rad Laboratories by 35.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 3,796 shares of the medical research company’s stock worth $1,115,000 after purchasing an additional 987 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

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.