Bio-Rad Laboratories (NYSE:BIO) PT Lowered to $385.00 at UBS Group

Bio-Rad Laboratories (NYSE:BIO) had its price target decreased by equities researchers at UBS Group from $420.00 to $385.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. UBS Group’s price target would suggest a potential upside of 40.81% from the company’s previous close.

A number of other equities analysts have also commented on BIO. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada decreased their price objective on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Finally, Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their target price for the stock from $400.00 to $365.00 in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $461.00.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock traded down $6.50 during midday trading on Wednesday, hitting $273.41. 46,306 shares of the company’s stock were exchanged, compared to its average volume of 204,037. The company has a market cap of $7.80 billion, a P/E ratio of -12.93 and a beta of 0.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.34 and a current ratio of 5.83. The stock has a 50-day moving average price of $316.40 and a two-hundred day moving average price of $314.26. Bio-Rad Laboratories has a 52-week low of $261.59 and a 52-week high of $431.79.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Tuesday, May 7th. The medical research company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.04 by $0.25. The company had revenue of $610.82 million during the quarter, compared to analyst estimates of $619.09 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. Bio-Rad Laboratories’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.34 earnings per share. On average, equities research analysts forecast that Bio-Rad Laboratories will post 10.41 earnings per share for the current year.

Insider Buying and Selling

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total value of $1,008,000.00. Following the completion of the sale, the executive vice president now owns 6,942 shares in the company, valued at $2,332,512. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.50% of the stock is owned by corporate insiders.

Institutional Trading of Bio-Rad Laboratories

Institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC bought a new stake in shares of Bio-Rad Laboratories in the 1st quarter worth approximately $38,000. Gladius Capital Management LP lifted its stake in Bio-Rad Laboratories by 65.8% in the fourth quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock worth $39,000 after acquiring an additional 48 shares during the period. ING Groep NV bought a new stake in Bio-Rad Laboratories in the third quarter valued at $44,000. Principal Securities Inc. purchased a new position in Bio-Rad Laboratories during the 4th quarter valued at $41,000. Finally, GAMMA Investing LLC bought a new position in Bio-Rad Laboratories in the 4th quarter worth $42,000. 65.24% of the stock is currently owned by hedge funds and other 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.