Bio-Rad Laboratories (NYSE:BIO) Price Target Raised to $370.00

Bio-Rad Laboratories (NYSE:BIO) had its price objective hoisted by Royal Bank Of Canada from $320.00 to $370.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

A number of other research analysts have also commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Bio-Rad Laboratories in a research report on Monday. Zacks Research downgraded Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $375.00 to $300.00 in a research note on Tuesday, April 7th. Finally, Wells Fargo & Company raised their price objective on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $343.33.

Bio-Rad Laboratories Stock Up 3.0%

BIO opened at $352.72 on Wednesday. The company’s 50-day moving average price is $303.18 and its two-hundred day moving average price is $288.65. Bio-Rad Laboratories has a twelve month low of $236.73 and a twelve month high of $353.33. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 42.75 and a beta of 1.06. The company has a quick ratio of 2.37, a current ratio of 3.14 and a debt-to-equity ratio of 0.11.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.87. The business had revenue of $651.00 million during the quarter, compared to the consensus estimate of $623.99 million. Bio-Rad Laboratories had a return on equity of 3.54% and a net margin of 8.59%.The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the business posted $2.61 earnings per share. As a group, equities analysts expect that Bio-Rad Laboratories will post 9.14 earnings per share for the current year.

Institutional Trading of Bio-Rad Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the business. Danske Bank A S bought a new stake in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $30,000. Hollencrest Capital Management purchased a new stake in shares of Bio-Rad Laboratories during the first quarter worth about $28,000. Geneos Wealth Management Inc. lifted its position in 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 worth $34,000 after acquiring an additional 76 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Bio-Rad Laboratories in the fourth quarter valued at approximately $47,000. Finally, Farther Finance Advisors LLC raised its position in Bio-Rad Laboratories by 76.9% during the fourth quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock valued at $56,000 after acquiring an additional 80 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

About Bio-Rad Laboratories

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.