Analysts Set Bio-Rad Laboratories, Inc. (NYSE:BIO) Price Target at $333.00

Bio-Rad Laboratories, Inc. (NYSE:BIO) has been given an average rating of “Hold” by the five analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $333.00.

Several research analysts have commented on BIO shares. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their price target for the stock from $375.00 to $300.00 in a research report on Tuesday, April 7th. Weiss Ratings lowered Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Wells Fargo & Company reduced their price objective on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st.

Bio-Rad Laboratories Trading Down 4.3%

BIO opened at $243.48 on Tuesday. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 40.11 and a beta of 1.06. Bio-Rad Laboratories has a 52 week low of $211.43 and a 52 week high of $343.12. The business’s 50 day moving average is $276.16 and its two-hundred day moving average is $295.93. The company has a quick ratio of 2.37, a current ratio of 3.21 and a debt-to-equity ratio of 0.12.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08). The firm had revenue of $592.10 million for the quarter, compared to analyst estimates of $589.91 million. Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $2.54 EPS. On average, research analysts predict that Bio-Rad Laboratories will post 10.32 EPS for the current year.

Institutional Trading of Bio-Rad Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in Bio-Rad Laboratories by 52.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 36 shares during the last quarter. UMB Bank n.a. raised its stake in Bio-Rad Laboratories by 24.0% during the 3rd quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 40 shares during the last quarter. William B. Walkup & Associates Inc. raised its stake in Bio-Rad Laboratories by 2.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 1,902 shares of the medical research company’s stock valued at $530,000 after acquiring an additional 48 shares during the last quarter. CWM LLC raised its stake in Bio-Rad Laboratories by 26.7% during the 4th quarter. CWM LLC now owns 256 shares of the medical research company’s stock valued at $78,000 after acquiring an additional 54 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its stake in Bio-Rad Laboratories by 1.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,954 shares of the medical research company’s stock valued at $828,000 after acquiring an additional 55 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

About Bio-Rad Laboratories

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.