Bio-Rad Laboratories, Inc. (BIO) Lowered to “Hold” at BidaskClub

BidaskClub downgraded shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Other equities research analysts have also recently issued reports about the company. Jefferies Group LLC increased their price target on Bio-Rad Laboratories from $250.00 to $300.00 and gave the company a buy rating in a research note on Tuesday, March 14th. Zacks Investment Research upgraded Bio-Rad Laboratories from a hold rating to a buy rating and set a $244.00 price objective for the company in a research note on Monday, May 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Bio-Rad Laboratories currently has an average rating of Buy and an average target price of $217.25.

Bio-Rad Laboratories (BIO) opened at 225.03 on Wednesday. The firm has a 50-day moving average price of $222.28 and a 200-day moving average price of $200.51. Bio-Rad Laboratories has a 12 month low of $135.94 and a 12 month high of $230.40. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 238.89 and a beta of 0.88.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, May 4th. The medical research company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Bio-Rad Laboratories had a return on equity of 3.23% and a net margin of 1.35%. The company had revenue of $500.05 million during the quarter, compared to analysts’ expectations of $477.76 million. During the same period last year, the business posted $0.42 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts expect that Bio-Rad Laboratories will post $2.85 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in BIO. FMR LLC purchased a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at about $30,186,000. Parametric Portfolio Associates LLC boosted its position in shares of Bio-Rad Laboratories by 23.8% in the first quarter. Parametric Portfolio Associates LLC now owns 90,855 shares of the medical research company’s stock valued at $18,111,000 after buying an additional 17,492 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Bio-Rad Laboratories during the first quarter valued at about $1,253,000. Elkfork Partners LLC purchased a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at about $211,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of Bio-Rad Laboratories by 3.9% in the first quarter. Great West Life Assurance Co. Can now owns 12,380 shares of the medical research company’s stock valued at $2,467,000 after buying an additional 469 shares during the last quarter. Hedge funds and other institutional investors own 63.85% of the company’s stock.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It 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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