Wells Fargo & Company Issues Positive Forecast for Bio-Rad Laboratories (NYSE:BIO) Stock Price

Bio-Rad Laboratories (NYSE:BIO) had its price objective upped by Wells Fargo & Company from $265.00 to $340.00 in a research note published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the medical research company’s stock.

A number of other equities research analysts also recently weighed in on BIO. Royal Bank Of Canada boosted their price target on Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Rad Laboratories in a report on Tuesday, October 14th. Wall Street Zen downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Finally, Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $358.50.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $304.92 on Thursday. The stock’s 50 day moving average price is $298.33 and its 200 day moving average price is $264.59. The firm has a market capitalization of $8.25 billion, a PE ratio of -12.54 and a beta of 0.97. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 5.12. Bio-Rad Laboratories has a one year low of $211.43 and a one year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Wednesday, October 29th. The medical research company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.04). Bio-Rad Laboratories had a negative net margin of 26.43% and a positive return on equity of 4.18%. The business had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $651.30 million. During the same quarter last year, the company posted $2.01 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Bio-Rad Laboratories will post 10.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quent Capital LLC bought a new position in shares of Bio-Rad Laboratories in the third quarter worth $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Bio-Rad Laboratories by 3,633.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 112 shares of the medical research company’s stock worth $27,000 after purchasing an additional 109 shares in the last quarter. Quarry LP bought a new position in shares of Bio-Rad Laboratories in the first quarter worth $29,000. Farther Finance Advisors LLC grew its stake in shares of Bio-Rad Laboratories by 52.9% in the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Bio-Rad Laboratories by 115.2% in the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after purchasing an additional 76 shares in the last quarter. 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.