Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Consensus Rating of “Hold” from Brokerages

Bio-Rad Laboratories, Inc. (NYSE:BIO) has received an average rating of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $343.3333.

Several equities research analysts have recently issued reports on BIO shares. Wells Fargo & Company lifted their price objective on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Citigroup lifted their price target on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Zacks Research raised shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada raised their price objective on Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th.

Bio-Rad Laboratories Stock Up 0.0%

Shares of BIO opened at $386.26 on Monday. The business’s 50 day moving average is $336.27 and its 200 day moving average is $299.63. The company has a market capitalization of $10.33 billion, a PE ratio of 46.82 and a beta of 1.07. Bio-Rad Laboratories has a 12-month low of $236.73 and a 12-month high of $396.23. The company has a current ratio of 3.14, a quick ratio of 2.33 and a debt-to-equity ratio of 0.11.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.87. Bio-Rad Laboratories had a return on equity of 3.54% and a net margin of 8.59%.The business had revenue of $651.00 million during the quarter, compared to the consensus estimate of $623.99 million. During the same period in the prior year, the company posted $2.61 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts expect that Bio-Rad Laboratories will post 9.28 earnings per share for the current fiscal year.

Institutional Trading of Bio-Rad Laboratories

A number of large investors have recently added to or reduced their stakes in BIO. California State Teachers Retirement System raised its position in shares of Bio-Rad Laboratories by 22.9% during the 1st quarter. California State Teachers Retirement System now owns 21,932 shares of the medical research company’s stock valued at $6,114,000 after buying an additional 4,082 shares in the last quarter. Westport Asset Management Inc. purchased a new position in Bio-Rad Laboratories in the second quarter worth about $881,000. Lazard Asset Management LLC bought a new stake in Bio-Rad Laboratories during the first quarter worth approximately $5,098,000. Assetmark Inc. raised its position in Bio-Rad Laboratories by 19.0% during the first quarter. Assetmark Inc. now owns 38,989 shares of the medical research company’s stock valued at $10,868,000 after purchasing an additional 6,224 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Bio-Rad Laboratories by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,089,323 shares of the medical research company’s stock valued at $303,637,000 after purchasing an additional 12,251 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.