Brokerages Set $225.00 Target Price for Bio-Rad Laboratories Inc. (NYSE:BIO)
Bio-Rad Laboratories Inc. (NYSE:BIO) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating. Bio-Rad Laboratories’ rating score has improved by 50% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 1-year consensus price objective of $225.00 for the company and are expecting that the company will post $0.51 EPS for the current quarter, according to Zacks. Zacks has also assigned Bio-Rad Laboratories an industry rank of 87 out of 265 based on the ratings given to related companies.
Several research firms recently commented on BIO. Jefferies Group raised their target price on Bio-Rad Laboratories from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 7th. Zacks Investment Research upgraded Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th.
Bio-Rad Laboratories (NYSE:BIO) traded down 0.34% during mid-day trading on Friday, reaching $161.32. The company’s stock had a trading volume of 28,743 shares. Bio-Rad Laboratories has a 52 week low of $122.03 and a 52 week high of $162.20. The firm has a market capitalization of $4.75 billion, a P/E ratio of 48.93 and a beta of 0.93. The firm’s 50 day moving average price is $154.92 and its 200 day moving average price is $145.03.
Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Wednesday, August 3rd. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $1.13 by $0.52. Bio-Rad Laboratories had a net margin of 4.79% and a return on equity of 3.86%. The business earned $516.80 million during the quarter, compared to analyst estimates of $497.80 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Bio-Rad Laboratories will post $3.10 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Atlanta Capital Management Co. L L C raised its position in shares of Bio-Rad Laboratories by 2.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,769,119 shares of the company’s stock worth $253,019,000 after buying an additional 42,593 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Bio-Rad Laboratories by 4.4% in the second quarter. Vanguard Group Inc. now owns 1,498,194 shares of the company’s stock worth $214,272,000 after buying an additional 63,322 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Bio-Rad Laboratories by 1.0% in the second quarter. Acadian Asset Management LLC now owns 943,069 shares of the company’s stock worth $134,878,000 after buying an additional 8,923 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Bio-Rad Laboratories by 8.3% in the second quarter. BlackRock Fund Advisors now owns 808,020 shares of the company’s stock worth $115,563,000 after buying an additional 62,178 shares during the last quarter. Finally, Levin Capital Strategies L.P. raised its position in shares of Bio-Rad Laboratories by 4.4% in the second quarter. Levin Capital Strategies L.P. now owns 796,062 shares of the company’s stock worth $113,853,000 after buying an additional 33,600 shares during the last quarter. 62.83% of the stock is owned by hedge funds and other institutional investors.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of life science research and clinical diagnostics products. The Company manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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