Bio-Rad Laboratories, Inc. (NYSE:BIO) Stock Has Average Price Target of $343.33

Bio-Rad Laboratories, Inc. (NYSE:BIO) has earned an average rating of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $343.33.

BIO has been the topic of a number of recent research reports. Citigroup increased their price objective on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Royal Bank Of Canada upped their target price on Bio-Rad Laboratories from $320.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company lifted their price target on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th.

Hedge Funds Weigh In On Bio-Rad Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. William B. Walkup & Associates Inc. grew its holdings in Bio-Rad Laboratories by 2.6% in the first quarter. William B. Walkup & Associates Inc. now owns 1,902 shares of the medical research company’s stock worth $530,000 after purchasing an additional 48 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Bio-Rad Laboratories by 0.6% during the 1st quarter. Cetera Investment Advisers now owns 7,596 shares of the medical research company’s stock valued at $2,117,000 after purchasing an additional 48 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in Bio-Rad Laboratories by 8.3% in the second quarter. Rehmann Capital Advisory Group now owns 954 shares of the medical research company’s stock valued at $280,000 after buying an additional 73 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Bio-Rad Laboratories by 2.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 3,746 shares of the medical research company’s stock valued at $1,044,000 after buying an additional 77 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Bio-Rad Laboratories in the second quarter valued at about $27,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Down 0.0%

NYSE:BIO opened at $368.96 on Friday. Bio-Rad Laboratories has a 1-year low of $236.73 and a 1-year high of $396.23. The company has a 50-day moving average of $367.28 and a 200 day moving average of $314.42. The firm has a market cap of $9.87 billion, a PE ratio of 44.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.14 and a quick ratio of 2.33.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Tuesday, August 4th. The medical research company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.87. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The business had revenue of $651.00 million for the quarter, compared to the consensus estimate of $623.99 million. During the same quarter last year, the firm posted $2.61 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts anticipate that Bio-Rad Laboratories will post 9.28 EPS for the current fiscal year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global life science research and clinical diagnostics company headquartered in Hercules, California. Founded in 1952, the company develops, manufactures and sells products that support scientific research, biotechnology production, medical testing and quality assurance.

Its Life Science segment provides instruments, reagents, consumables and software used in areas such as genomics, proteomics, cell biology, digital PCR, electrophoresis, chromatography and biopharmaceutical manufacturing.