Analysts Set Bio-Rad Laboratories, Inc. (NYSE:BIO) Target Price at $394.20

Bio-Rad Laboratories, Inc. (NYSE:BIO) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $394.20.

Several analysts have issued reports on the company. Citigroup upped their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their price objective on Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $343.88 on Friday. Bio-Rad Laboratories has a 52 week low of $262.12 and a 52 week high of $387.99. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The stock has a market cap of $9.63 billion, a P/E ratio of -12.58 and a beta of 0.90. The stock has a 50 day moving average of $339.69 and a 200-day moving average of $326.68.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.85. The firm had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.33 EPS. On average, analysts expect that Bio-Rad Laboratories will post 10.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BIO. UMB Bank n.a. boosted its holdings in shares of Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 45 shares during the period. Gladius Capital Management LP acquired a new position in Bio-Rad Laboratories during the 3rd quarter worth $32,000. Point72 Hong Kong Ltd bought a new position in shares of Bio-Rad Laboratories in the third quarter worth $55,000. Headlands Technologies LLC acquired a new position in shares of Bio-Rad Laboratories during the second quarter valued at $51,000. Finally, Quarry LP bought a new stake in shares of Bio-Rad Laboratories during the second quarter valued at about $59,000. 65.24% of the stock is currently owned by institutional investors.

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.