Bio-Rad Laboratories, Inc. (BIO) – What Are Brokerages Saying About This Stock?

Bio-Rad Laboratories, Inc. (NYSE:BIO) has received a consensus rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $343.33.

Several equities research analysts have commented on the company. Citigroup boosted their target price on Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Wells Fargo & Company raised their target price on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada boosted their price target on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Bio-Rad Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $372.35 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.33 and a current ratio of 3.14. Bio-Rad Laboratories has a 52 week low of $236.73 and a 52 week high of $396.23. The company’s 50 day moving average price is $374.97 and its two-hundred day moving average price is $314.10. The company has a market capitalization of $9.96 billion, a P/E ratio of 45.13 and a beta of 1.07.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.87. The firm had revenue of $651.00 million during 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 company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.61 EPS. On average, analysts expect that Bio-Rad Laboratories will post 9.71 earnings per share for the current fiscal year.

Institutional Trading of Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of BIO. Dimensional Fund Advisors LP lifted its stake in Bio-Rad Laboratories by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,089,323 shares of the medical research company’s stock valued at $303,637,000 after purchasing an additional 12,251 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Bio-Rad Laboratories by 57.8% during the second quarter. Assenagon Asset Management S.A. now owns 233,227 shares of the medical research company’s stock worth $68,478,000 after purchasing an additional 85,393 shares during the period. Hosking Partners LLP increased its position in Bio-Rad Laboratories by 1.1% during the third quarter. Hosking Partners LLP now owns 95,472 shares of the medical research company’s stock worth $36,061,000 after buying an additional 1,042 shares during the last quarter. Hound Partners LLC increased its position in Bio-Rad Laboratories by 125.9% during the first quarter. Hound Partners LLC now owns 97,724 shares of the medical research company’s stock worth $27,241,000 after buying an additional 54,456 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in Bio-Rad Laboratories by 4.1% in the first quarter. Boston Trust Walden Corp now owns 93,495 shares of the medical research company’s stock valued at $26,062,000 after buying an additional 3,657 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc develops, manufactures and markets products and systems used in life science research and clinical diagnostics. Its life science portfolio includes laboratory instruments, reagents, software and consumables used in areas such as genomics, proteomics, cell biology, biopharmaceutical development and quality control.

The company’s clinical diagnostics business provides systems, reagents and software for blood typing, infectious disease testing, diabetes monitoring, quality control and other diagnostic applications.