CL King Begins Coverage on Bio-Rad Laboratories Inc. (BIO)
CL King initiated coverage on shares of Bio-Rad Laboratories Inc. (NYSE:BIO) in a research report report published on Wednesday. The brokerage issued a buy rating and a $180.00 target price on the stock.
BIO has been the subject of a number of other reports. Jefferies Group lifted their price target on shares of Bio-Rad Laboratories from $200.00 to $225.00 and gave the stock a buy rating in a report on Wednesday, September 7th. Zacks Investment Research upgraded shares of Bio-Rad Laboratories from a sell rating to a hold rating in a report on Wednesday, July 6th.
Shares of Bio-Rad Laboratories (NYSE:BIO) opened at 161.33 on Wednesday. The company’s 50-day moving average is $158.84 and its 200 day moving average is $148.05. Bio-Rad Laboratories has a 52 week low of $122.03 and a 52 week high of $164.89. The stock has a market capitalization of $4.75 billion, a P/E ratio of 48.93 and a beta of 0.87.
Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by $0.52. The firm had revenue of $516.80 million for the quarter, compared to analysts’ expectations of $497.80 million. Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 4.79%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. On average, equities analysts forecast that Bio-Rad Laboratories will post $3.10 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Bio-Rad Laboratories by 4.1% in the first quarter. State Street Corp now owns 554,735 shares of the company’s stock valued at $75,838,000 after buying an additional 22,053 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Bio-Rad Laboratories by 10,254.5% in the first quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company’s stock valued at $156,000 after buying an additional 1,128 shares in the last quarter. Aperio Group LLC boosted its stake in Bio-Rad Laboratories by 10.0% in the first quarter. Aperio Group LLC now owns 8,629 shares of the company’s stock valued at $1,180,000 after buying an additional 783 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Bio-Rad Laboratories during the second quarter valued at about $370,000. Finally, JPMorgan Chase & Co. boosted its stake in Bio-Rad Laboratories by 113.1% in the first quarter. JPMorgan Chase & Co. now owns 33,379 shares of the company’s stock valued at $4,563,000 after buying an additional 17,719 shares in the last quarter. 62.76% of the stock is currently owned by institutional investors and hedge funds.
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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