Barclays Increases Bio-Rad Laboratories (NYSE:BIO) Price Target to $380.00

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Bio-Rad Laboratories (NYSE:BIO) had its price target hoisted by Barclays from $350.00 to $380.00 in a research note released on Friday, The Fly reports. The brokerage currently has an overweight rating on the medical research company’s stock. The analysts noted that the move was a valuation call.

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Bio-Rad Laboratories from a strong-buy rating to a hold rating in a research report on Wednesday, May 1st. Deutsche Bank lifted their price objective on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a buy rating in a research report on Thursday, May 9th. Finally, ValuEngine cut shares of Bio-Rad Laboratories from a buy rating to a hold rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $370.00.

NYSE BIO opened at $318.80 on Friday. The company has a market capitalization of $10.01 billion, a PE ratio of 54.59, a P/E/G ratio of 3.13 and a beta of 1.21. Bio-Rad Laboratories has a 1 year low of $220.05 and a 1 year high of $345.15. The firm has a fifty day moving average of $313.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.57 and a quick ratio of 3.24.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.18. Bio-Rad Laboratories had a return on equity of 4.11% and a net margin of 39.32%. The company had revenue of $572.60 million for the quarter, compared to analysts’ expectations of $564.88 million. During the same quarter in the prior year, the company earned $1.64 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts predict that Bio-Rad Laboratories will post 7.19 earnings per share for the current year.

In other Bio-Rad Laboratories news, EVP Timothy S. Ernst sold 345 shares of Bio-Rad Laboratories stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $290.00, for a total transaction of $100,050.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 27.84% of the company’s stock.

Several institutional investors have recently bought and sold shares of BIO. Norges Bank purchased a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at $46,327,000. American Century Companies Inc. grew its holdings in shares of Bio-Rad Laboratories by 14.7% during the 1st quarter. American Century Companies Inc. now owns 788,955 shares of the medical research company’s stock valued at $241,168,000 after acquiring an additional 100,850 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Bio-Rad Laboratories by 197.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 66,203 shares of the medical research company’s stock valued at $20,237,000 after acquiring an additional 43,964 shares in the last quarter. Tygh Capital Management Inc. purchased a new position in shares of Bio-Rad Laboratories during the 1st quarter valued at $12,812,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Bio-Rad Laboratories during the 2nd quarter valued at $13,083,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

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