Bio-Rad Laboratories, Inc. (NYSE:BIO) Given Average Recommendation of “Hold” by Analysts

Bio-Rad Laboratories, Inc. (NYSE:BIO) has received a consensus rating of “Hold” from the five ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $303.3333.

A number of analysts have issued reports on the company. Weiss Ratings downgraded Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $375.00 to $300.00 in a research note on Tuesday, April 7th. Royal Bank Of Canada assumed coverage on Bio-Rad Laboratories in a research note on Friday, May 15th. They issued an “outperform” rating and a $320.00 price objective on the stock. Wall Street Zen downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Wells Fargo & Company reduced their price objective on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st.

Bio-Rad Laboratories Stock Down 0.5%

Shares of BIO opened at $304.46 on Friday. The business’s 50 day moving average is $281.01 and its 200 day moving average is $291.73. The company has a market capitalization of $8.15 billion, a PE ratio of 50.16 and a beta of 1.08. Bio-Rad Laboratories has a 12-month low of $218.14 and a 12-month high of $343.12. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.08). The business had revenue of $592.10 million for the quarter, compared to the consensus estimate of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $2.54 EPS. Research analysts expect that Bio-Rad Laboratories will post 9.42 earnings per share for the current fiscal year.

Institutional Trading of Bio-Rad Laboratories

A number of large investors have recently added to or reduced their stakes in BIO. Hollencrest Capital Management bought a new stake in Bio-Rad Laboratories in the 1st quarter worth approximately $28,000. Danske Bank A S bought a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at approximately $30,000. Geneos Wealth Management Inc. increased its position in shares of Bio-Rad Laboratories by 115.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 76 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at approximately $47,000. Finally, Farther Finance Advisors LLC increased its position in shares of Bio-Rad Laboratories by 76.9% during the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 80 shares during the last quarter. 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.