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.
COPYRIGHT VIOLATION WARNING: “Bio-Rad Laboratories, Inc. (BIO) Lowered to “Hold” at BidaskClub” was originally posted by Ticker Report and is the property of of Ticker Report. If you are viewing this report on another domain, it was stolen and republished in violation of US & international copyright and trademark laws. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/2654281/bio-rad-laboratories-inc-bio-lowered-to-hold-at-bidaskclub.html.
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.
Receive News & Ratings for Bio-Rad Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories Inc. and related companies with MarketBeat.com's FREE daily email newsletter.