Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $343.33 Consensus PT from Analysts

Bio-Rad Laboratories, Inc. (NYSE:BIO) has received an average recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $343.3333.

A number of equities research analysts have commented on the company. Citigroup raised their target price on Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Wells Fargo & Company increased their price target on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Zacks Research raised shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, August 17th.

Bio-Rad Laboratories Stock Up 0.1%

Bio-Rad Laboratories stock opened at $368.97 on Monday. Bio-Rad Laboratories has a twelve month low of $236.73 and a twelve month high of $396.23. The stock has a 50 day moving average of $344.36 and a two-hundred day moving average of $303.15. The company has a current ratio of 3.14, a quick ratio of 2.33 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 44.72 and a beta of 1.07.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.87. Bio-Rad Laboratories had a return on equity of 3.54% and a net margin of 8.59%.The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $623.99 million. During the same period last year, the company earned $2.61 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts expect that Bio-Rad Laboratories will post 9.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BIO. California State Teachers Retirement System grew its holdings in 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 valued at $1,790,171,000 after buying an additional 6,075,173 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Bio-Rad Laboratories by 2.0% during the fourth quarter. First Eagle Investment Management LLC now owns 2,570,473 shares of the medical research company’s stock valued at $778,828,000 after buying an additional 50,154 shares during the period. Dimensional Fund Advisors LP boosted its position in Bio-Rad Laboratories by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,089,323 shares of the medical research company’s stock worth $303,637,000 after acquiring an additional 12,251 shares during the last quarter. Capital Research Global Investors boosted its position in Bio-Rad Laboratories by 18.2% during the fourth quarter. Capital Research Global Investors now owns 494,472 shares of the medical research company’s stock worth $149,820,000 after acquiring an additional 76,117 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Bio-Rad Laboratories by 1.7% in the 3rd quarter. Bank of America Corp DE now owns 459,887 shares of the medical research company’s stock worth $128,948,000 after acquiring an additional 7,754 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a life science research and clinical diagnostics company headquartered in Hercules, California. Founded in 1952 by David and Alice Schwartz, the company develops, manufactures and markets products used by academic, pharmaceutical, biotechnology, healthcare and government customers.

Its Life Science segment provides instruments, reagents, consumables and software for applications including genomics, digital PCR, gene expression analysis, protein purification, cell biology and biopharmaceutical quality control.