Wells Fargo & Company Lowers Bio-Rad Laboratories (NYSE:BIO) Price Target to $345.00

Bio-Rad Laboratories (NYSE:BIO) had its price objective cut by investment analysts at Wells Fargo & Company from $360.00 to $345.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 13.27% from the stock’s current price.

A number of other research analysts have also issued reports on the company. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Finally, Citigroup upped their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $395.20.

Bio-Rad Laboratories Trading Down 2.5 %

Bio-Rad Laboratories stock opened at $304.57 on Wednesday. The firm’s 50-day moving average is $339.70 and its 200-day moving average is $336.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. Bio-Rad Laboratories has a 1 year low of $262.12 and a 1 year high of $387.99. The company has a market cap of $8.53 billion, a P/E ratio of -11.14 and a beta of 0.90.

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, topping the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. On average, equities analysts expect that Bio-Rad Laboratories will post 10.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BIO. Strategic Financial Concepts LLC bought a new position in Bio-Rad Laboratories in the 4th quarter valued at about $3,561,000. Lecap Asset Management Ltd. acquired a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $510,000. Principal Financial Group Inc. lifted its stake in shares of Bio-Rad Laboratories by 95.6% in the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock worth $14,836,000 after acquiring an additional 21,669 shares during the period. Mawer Investment Management Ltd. boosted its holdings in shares of Bio-Rad Laboratories by 63.0% in the third quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock valued at $72,900,000 after acquiring an additional 84,237 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of Bio-Rad Laboratories by 193.3% during the third quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock valued at $1,161,000 after acquiring an additional 2,287 shares during the period. Institutional investors and hedge funds 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.