Analysts Set Bio-Rad Laboratories, Inc. (NYSE:BIO) Price Target at $333.00

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have earned a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $333.00.

Several research firms have commented on BIO. Wells Fargo & Company lowered their price target on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $375.00 to $300.00 in a research note on Tuesday, April 7th. Finally, Weiss Ratings lowered Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $254.36 on Tuesday. Bio-Rad Laboratories has a twelve month low of $211.43 and a twelve month high of $343.12. The company’s 50 day moving average is $277.10 and its 200 day moving average is $297.02. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12. The company has a market cap of $6.87 billion, a PE ratio of 41.90 and a beta of 1.06.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). The business had revenue of $592.10 million during the quarter, compared to analyst estimates of $589.91 million. Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.54 EPS. On average, sell-side analysts forecast that Bio-Rad Laboratories will post 10.32 EPS for the current year.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of institutional investors have recently modified their holdings of BIO. Capital Research Global Investors purchased a new position in shares of Bio-Rad Laboratories during the 3rd quarter valued at about $117,303,000. Massachusetts Financial Services Co. MA raised its stake in shares of Bio-Rad Laboratories by 4,534.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock valued at $120,956,000 after buying an additional 390,593 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Bio-Rad Laboratories by 2,271.3% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 397,171 shares of the medical research company’s stock valued at $111,363,000 after buying an additional 380,422 shares during the last quarter. Boston Partners purchased a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at about $75,037,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Bio-Rad Laboratories by 6,586.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 147,834 shares of the medical research company’s stock valued at $41,209,000 after buying an additional 145,623 shares during the last quarter. Hedge funds and other 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.