Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $303.33 Consensus Price Target from Brokerages

Bio-Rad Laboratories, Inc. (NYSE:BIO) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $303.3333.

A number of analysts have recently issued reports on BIO shares. Royal Bank Of Canada started coverage on Bio-Rad Laboratories in a report on Friday, May 15th. They set an “outperform” rating and a $320.00 target price for the company. Weiss Ratings cut Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Wells Fargo & Company decreased their target price on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Finally, Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $375.00 to $300.00 in a report on Tuesday, April 7th.

Bio-Rad Laboratories Stock Down 0.2%

BIO opened at $300.15 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.21 and a quick ratio of 2.37. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 49.45 and a beta of 1.08. The business has a 50-day moving average of $284.52 and a two-hundred day moving average of $288.42. Bio-Rad Laboratories has a 12 month low of $236.73 and a 12 month high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08). The business had revenue of $592.10 million during the quarter, compared to analysts’ expectations of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.54 EPS. On average, research analysts expect that Bio-Rad Laboratories will post 9.42 earnings per share for the current year.

Institutional Trading of Bio-Rad Laboratories

A number of institutional investors have recently modified their holdings of BIO. Royal Bank of Canada grew its holdings in shares of Bio-Rad Laboratories by 25.2% during the 1st quarter. Royal Bank of Canada now owns 30,310 shares of the medical research company’s stock worth $7,382,000 after purchasing an additional 6,100 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Bio-Rad Laboratories by 45.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 105,006 shares of the medical research company’s stock worth $25,575,000 after acquiring an additional 32,874 shares during the period. Empowered Funds LLC boosted its holdings in Bio-Rad Laboratories by 14.8% in the 1st quarter. Empowered Funds LLC now owns 1,547 shares of the medical research company’s stock worth $377,000 after acquiring an additional 199 shares during the period. Jane Street Group LLC boosted its holdings in Bio-Rad Laboratories by 95.3% in the 1st quarter. Jane Street Group LLC now owns 37,383 shares of the medical research company’s stock worth $9,105,000 after acquiring an additional 18,239 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Bio-Rad Laboratories by 13.5% in the 2nd quarter. Cetera Investment Advisers now owns 2,192 shares of the medical research company’s stock worth $529,000 after acquiring an additional 260 shares during the period. 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.