Bio-Rad Laboratories (NYSE:BIO) Given New $270.00 Price Target at Wells Fargo & Company

Bio-Rad Laboratories (NYSE:BIO) had its price target lowered by Wells Fargo & Company from $320.00 to $270.00 in a research note released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical research company’s stock.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $481.00 price objective on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $380.20.

Bio-Rad Laboratories Trading Down 2.9 %

Shares of BIO opened at $238.02 on Thursday. Bio-Rad Laboratories has a twelve month low of $215.38 and a twelve month high of $387.99. The firm has a market capitalization of $6.67 billion, a P/E ratio of -3.66 and a beta of 1.12. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $257.16 and its 200 day simple moving average is $312.50.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. On average, equities research analysts forecast that Bio-Rad Laboratories will post 10.81 earnings per share for the current year.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metis Global Partners LLC grew its stake in shares of Bio-Rad Laboratories by 4.4% during the fourth quarter. Metis Global Partners LLC now owns 712 shares of the medical research company’s stock valued at $234,000 after acquiring an additional 30 shares in the last quarter. Signaturefd LLC grew its stake in Bio-Rad Laboratories by 13.2% during the 4th quarter. Signaturefd LLC now owns 265 shares of the medical research company’s stock valued at $87,000 after purchasing an additional 31 shares in the last quarter. UMB Bank n.a. grew its stake in Bio-Rad Laboratories by 41.6% during the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 32 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Bio-Rad Laboratories by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company’s stock worth $1,488,000 after purchasing an additional 32 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of Bio-Rad Laboratories by 3.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 900 shares of the medical research company’s stock valued at $296,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.