Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $395.20.

Several brokerages have recently commented on BIO. Wells Fargo & Company reduced their target price on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th.

Institutional Trading of Bio-Rad Laboratories

Several institutional investors have recently added to or reduced their stakes in BIO. Venturi Wealth Management LLC increased its position in Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after buying an additional 87 shares during the period. GeoWealth Management LLC grew its stake in shares of Bio-Rad Laboratories by 342.9% in the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 72 shares in the last quarter. Picton Mahoney Asset Management increased its position in Bio-Rad Laboratories by 55.6% during the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock worth $32,000 after acquiring an additional 35 shares during the period. Asset Planning Inc acquired a new stake in Bio-Rad Laboratories in the 4th quarter worth about $33,000. Finally, UMB Bank n.a. boosted its holdings in Bio-Rad Laboratories by 41.6% in the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 32 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $247.16 on Wednesday. The company has a fifty day moving average price of $299.43 and a two-hundred day moving average price of $324.12. Bio-Rad Laboratories has a one year low of $244.00 and a one year high of $387.99. The stock has a market cap of $6.92 billion, a P/E ratio of -3.80 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85.

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

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.