Bio-Rad Laboratories (NYSE:BIO) Price Target Raised to $330.00

Bio-Rad Laboratories (NYSE:BIO) had its price objective lifted by Wells Fargo & Company from $310.00 to $330.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the medical research company’s stock.

A number of other equities research analysts have also recently commented on BIO. Weiss Ratings reiterated a “sell (d)” rating on shares of Bio-Rad Laboratories in a research report on Monday. Royal Bank Of Canada began coverage on Bio-Rad Laboratories in a report on Friday, May 15th. They issued an “outperform” rating and a $320.00 price objective for the company. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $375.00 to $300.00 in a research report on Tuesday, April 7th. Finally, Zacks Research lowered shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $343.33.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $352.72 on Wednesday. Bio-Rad Laboratories has a 12-month low of $236.73 and a 12-month high of $353.33. The business’s fifty day simple moving average is $303.18 and its 200-day simple moving average is $288.65. The company has a current ratio of 3.14, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The company has a market cap of $9.44 billion, a PE ratio of 42.75 and a beta of 1.06.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Tuesday, August 4th. The medical research company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.87. The firm had revenue of $651.00 million for the quarter, compared to analyst estimates of $623.99 million. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.61 earnings per share. Analysts expect that Bio-Rad Laboratories will post 9.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of Bio-Rad Laboratories by 4,534.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock worth $120,956,000 after acquiring an additional 390,593 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Bio-Rad Laboratories by 2,271.3% in the third 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 worth $111,363,000 after purchasing an additional 380,422 shares during the period. Boston Partners bought a new stake in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $75,037,000. Assenagon Asset Management S.A. grew its holdings in shares of Bio-Rad Laboratories by 6,586.3% in the first quarter. Assenagon Asset Management S.A. now owns 147,834 shares of the medical research company’s stock worth $41,209,000 after acquiring an additional 145,623 shares during the period. Finally, Norges Bank bought a new position in Bio-Rad Laboratories in the 4th quarter worth $34,600,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

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.