Bio-Rad Laboratories, Inc. (NYSE:BIO) Given Consensus Rating of “Hold” by Brokerages

Bio-Rad Laboratories, Inc. (NYSE:BIO) has been given a consensus rating of “Hold” by the six research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $358.50.

Several equities research analysts have commented on BIO shares. Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bio-Rad Laboratories in a report on Monday, December 29th.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $262.91 on Monday. The firm has a market capitalization of $7.10 billion, a P/E ratio of 9.42 and a beta of 1.18. The stock has a 50-day simple moving average of $292.06 and a two-hundred day simple moving average of $300.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.19 and a current ratio of 5.62. Bio-Rad Laboratories has a fifty-two week low of $211.43 and a fifty-two week high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, February 12th. The medical research company reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.06). The company had revenue of $693.20 million during the quarter, compared to analysts’ expectations of $694.64 million. Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 29.42%.The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.90 EPS. On average, equities analysts forecast that Bio-Rad Laboratories will post 10.81 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of Bio-Rad Laboratories by 52.9% in the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock worth $29,000 after acquiring an additional 36 shares during the period. UMB Bank n.a. grew its position in shares of Bio-Rad Laboratories by 24.0% during the 3rd quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 40 shares during the period. Frank Rimerman Advisors LLC grew its position in shares of Bio-Rad Laboratories by 3.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,806 shares of the medical research company’s stock valued at $436,000 after acquiring an additional 53 shares during the period. CWM LLC increased its stake in shares of Bio-Rad Laboratories by 26.7% in the 4th quarter. CWM LLC now owns 256 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 54 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in shares of Bio-Rad Laboratories by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,954 shares of the medical research company’s stock valued at $828,000 after purchasing an additional 55 shares in the last quarter. 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.