Bio-Rad Laboratories, Inc. (NYSE:BIO) Stock Has Consensus Target Price of $343.33 According to Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have received an average recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $343.33.

Several analysts have recently weighed in on BIO shares. Citigroup lifted their price objective on Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada upped their target price on Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Wells Fargo & Company upped their target price on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised Bio-Rad Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th.

Bio-Rad Laboratories Stock Up 0.8%

BIO stock opened at $372.85 on Tuesday. Bio-Rad Laboratories has a twelve month low of $236.73 and a twelve month high of $396.23. The company has a market cap of $9.97 billion, a PE ratio of 45.19 and a beta of 1.07. The business’s 50-day simple moving average is $373.55 and its 200 day simple moving average is $312.94. The company has a quick ratio of 2.33, a current ratio of 3.14 and a debt-to-equity ratio of 0.11.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.87. The firm had revenue of $651.00 million for the quarter, compared to analyst estimates of $623.99 million. Bio-Rad Laboratories had a return on equity of 3.54% and a net margin of 8.59%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.61 earnings per share. On average, research analysts anticipate that Bio-Rad Laboratories will post 9.28 earnings per share for the current year.

Institutional Investors Weigh In On Bio-Rad Laboratories

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its stake in shares of Bio-Rad Laboratories by 6.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 648 shares of the medical research company’s stock valued at $245,000 after purchasing an additional 39 shares during the period. Cetera Investment Advisers boosted its position in shares of Bio-Rad Laboratories by 0.6% during the 1st quarter. Cetera Investment Advisers now owns 7,596 shares of the medical research company’s stock valued at $2,117,000 after purchasing an additional 48 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Bio-Rad Laboratories by 8.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 954 shares of the medical research company’s stock valued at $280,000 after purchasing an additional 73 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Bio-Rad Laboratories by 2.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 3,746 shares of the medical research company’s stock worth $1,044,000 after purchasing an additional 77 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in Bio-Rad Laboratories during the third quarter worth approximately $34,000. Institutional investors own 65.24% of the company’s stock.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc develops, manufactures and markets products and systems used in life science research and clinical diagnostics. Its life science portfolio includes laboratory instruments, reagents, software and consumables used in areas such as genomics, proteomics, cell biology, biopharmaceutical development and quality control.

The company’s clinical diagnostics business provides systems, reagents and software for blood typing, infectious disease testing, diabetes monitoring, quality control and other diagnostic applications.