Bio-Rad Laboratories (NYSE:BIO) Reaches New 12-Month High – Here’s What Happened

Bio-Rad Laboratories, Inc. (NYSE:BIO) reached a new 52-week high on Tuesday . The stock traded as high as $386.67 and last traded at $386.4110, with a volume of 97330 shares changing hands. The stock had previously closed at $381.76.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BIO shares. Citigroup increased their price target on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada lifted their price objective on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Zacks Research upgraded shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their price target on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $343.33.

Bio-Rad Laboratories Trading Up 1.8%

The company’s fifty day moving average is $317.88 and its two-hundred day moving average is $293.37. The company has a quick ratio of 2.33, a current ratio of 3.14 and a debt-to-equity ratio of 0.11. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of 47.01 and a beta of 1.06.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $2.62 EPS for the quarter, topping the consensus estimate of $1.75 by $0.87. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The company had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $623.99 million. During the same quarter in the previous year, the business posted $2.61 EPS. The firm’s revenue was down .1% on a year-over-year basis. On average, research analysts predict that Bio-Rad Laboratories, Inc. will post 9.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Bio-Rad Laboratories

Several large investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Bio-Rad Laboratories in the second quarter valued at $1,964,000. California State Teachers Retirement System raised its position in shares of Bio-Rad Laboratories by 27,700.0% during the 2nd quarter. California State Teachers Retirement System now owns 6,097,105 shares of the medical research company’s stock worth $1,790,171,000 after acquiring an additional 6,075,173 shares in the last quarter. AlphaGrep UK Ltd purchased a new stake in Bio-Rad Laboratories during the second quarter worth approximately $249,000. AXQ Capital LP acquired a new position in Bio-Rad Laboratories in the second quarter valued at approximately $416,000. Finally, Nykredit A S acquired a new position in Bio-Rad Laboratories in the second quarter valued at approximately $118,000. Hedge funds and other 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.