Bio-Rad Laboratories (NYSE:BIO) Reaches New 12-Month Low – What’s Next?

Bio-Rad Laboratories, Inc. (NYSE:BIO) shares hit a new 52-week low on Monday . The company traded as low as $215.38 and last traded at $217.55, with a volume of 21241 shares. The stock had previously closed at $225.60.

Analyst Upgrades and Downgrades

BIO has been the topic of several recent research reports. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Royal Bank of Canada restated an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Finally, Wells Fargo & Company lowered their price objective on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Bio-Rad Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $395.20.

Bio-Rad Laboratories Stock Performance

The company has a market cap of $6.34 billion, a P/E ratio of -3.48 and a beta of 1.12. The business has a fifty day moving average of $281.98 and a 200 day moving average of $319.24. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. On average, equities analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Hedge Funds Weigh In On Bio-Rad Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Bio-Rad Laboratories by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,919,808 shares of the medical research company’s stock worth $630,676,000 after buying an additional 12,168 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in shares of Bio-Rad Laboratories in the 4th quarter worth about $342,686,000. Dimensional Fund Advisors LP boosted its stake in Bio-Rad Laboratories by 14.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 746,119 shares of the medical research company’s stock worth $245,106,000 after purchasing an additional 91,690 shares in the last quarter. Earnest Partners LLC grew its position in Bio-Rad Laboratories by 2.1% during the 4th quarter. Earnest Partners LLC now owns 618,049 shares of the medical research company’s stock valued at $203,035,000 after purchasing an additional 12,500 shares during the last quarter. Finally, Ariel Investments LLC increased its stake in Bio-Rad Laboratories by 48.0% during the 4th quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company’s stock valued at $184,138,000 after purchasing an additional 181,829 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.