Shares of Bio-Rad Laboratories Inc. (NYSE:BIO) have received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation. Bio-Rad Laboratories’ rating score has improved by 50% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 1-year consensus price target of $225.00 for the company and are forecasting that the company will post $0.51 EPS for the current quarter, according to Zacks. Zacks has also assigned Bio-Rad Laboratories an industry rank of 106 out of 265 based on the ratings given to its competitors.
BIO has been the topic of a number of research analyst reports. Jefferies Group reaffirmed a “buy” rating on shares of Bio-Rad Laboratories in a report on Wednesday, June 8th. Zacks Investment Research raised Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th.
A number of hedge funds and other institutional investors have recently bought and sold shares of BIO. Pioneer Investment Management Inc. increased its position in Bio-Rad Laboratories by 2.7% in the fourth quarter. Pioneer Investment Management Inc. now owns 16,639 shares of the company’s stock worth $2,308,000 after buying an additional 434 shares in the last quarter. Aperio Group LLC increased its position in Bio-Rad Laboratories by 10.0% in the first quarter. Aperio Group LLC now owns 8,629 shares of the company’s stock worth $1,180,000 after buying an additional 783 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Bio-Rad Laboratories by 2.5% in the first quarter. TIAA CREF Investment Management LLC now owns 89,746 shares of the company’s stock worth $12,270,000 after buying an additional 2,182 shares in the last quarter. Teachers Advisors Inc. increased its position in Bio-Rad Laboratories by 12.9% in the first quarter. Teachers Advisors Inc. now owns 20,147 shares of the company’s stock worth $2,754,000 after buying an additional 2,298 shares in the last quarter. Finally, BlackRock Inc. increased its position in Bio-Rad Laboratories by 8.5% in the first quarter. BlackRock Inc. now owns 23,195 shares of the company’s stock worth $3,171,000 after buying an additional 1,821 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors.
Bio-Rad Laboratories (NYSE:BIO) opened at 162.34 on Friday. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 49.24 and a beta of 0.93. The firm’s 50-day moving average price is $155.42 and its 200-day moving average price is $145.64. Bio-Rad Laboratories has a 12-month low of $122.03 and a 12-month high of $162.51.
Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Wednesday, August 3rd. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by $0.52. Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 4.79%. The company earned $516.80 million during the quarter, compared to analysts’ expectations of $497.80 million. During the same period in the prior year, the company posted $0.97 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts predict that Bio-Rad Laboratories will post $3.10 EPS for the current fiscal year.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of life science research and clinical diagnostics products. The Company manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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