Wells Fargo & Company Cuts Bio-Rad Laboratories (NYSE:BIO) Price Target to $345.00

Bio-Rad Laboratories (NYSE:BIO) had its price objective cut by equities research analysts at Wells Fargo & Company from $360.00 to $345.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 10.58% from the company’s previous close.

A number of other analysts also recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Citigroup boosted their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $395.20.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock traded down $2.73 during midday trading on Wednesday, reaching $312.00. 44,214 shares of the stock traded hands, compared to its average volume of 155,233. 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 firm has a fifty day moving average price of $340.56 and a two-hundred day moving average price of $336.91. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of -11.42 and a beta of 0.90. Bio-Rad Laboratories has a fifty-two week low of $262.12 and a fifty-two week high of $387.99.

Institutional Trading of Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in BIO. Wealthfront Advisers LLC bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $342,686,000. Van ECK Associates Corp raised its holdings in shares of Bio-Rad Laboratories by 97.8% in the 3rd quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock worth $436,861,000 after purchasing an additional 644,530 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth approximately $83,681,000. Norges Bank bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $41,644,000. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $28,740,000. 65.24% of the stock is currently owned by institutional investors.

About Bio-Rad Laboratories

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.