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

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

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

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in BIO. Allspring Global Investments Holdings LLC boosted its stake in shares of Bio-Rad Laboratories by 3.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 134,767 shares of the medical research company’s stock worth $40,154,000 after acquiring an additional 4,262 shares in the last quarter. Sector Gamma AS raised its holdings in Bio-Rad Laboratories by 28.0% during the third quarter. Sector Gamma AS now owns 22,827 shares of the medical research company’s stock worth $6,400,000 after purchasing an additional 4,998 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Bio-Rad Laboratories by 54.9% during the third quarter. Exchange Traded Concepts LLC now owns 21,580 shares of the medical research company’s stock worth $6,051,000 after purchasing an additional 7,648 shares in the last quarter. GAM Holding AG acquired a new stake in Bio-Rad Laboratories in the second quarter valued at $724,000. Finally, Boston Trust Walden Corp purchased a new position in shares of Bio-Rad Laboratories in the third quarter valued at $26,763,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Down 0.9%

Shares of NYSE:BIO opened at $268.77 on Thursday. The firm has a 50 day simple moving average of $300.36 and a 200-day simple moving average of $301.53. Bio-Rad Laboratories has a twelve month low of $211.43 and a twelve month 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 company has a market capitalization of $7.25 billion, a PE ratio of 9.63 and a beta of 1.18.

Bio-Rad Laboratories (NYSE:BIO) last posted its 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 net margin of 29.42% and a return on equity of 3.86%. The company had revenue of $693.20 million during the quarter, compared to analysts’ expectations of $694.64 million. During the same period last year, the business earned $2.90 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that Bio-Rad Laboratories will post 10.81 EPS 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.