Bio-Rad Laboratories, Inc. (NYSE:BIO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $395.20.

Several equities analysts have recently weighed in on BIO shares. Royal Bank of Canada reissued an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Wells Fargo & Company decreased their target price on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $264.60 on Friday. The business’s fifty day moving average price is $327.02 and its 200-day moving average price is $332.52. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of -4.07 and a beta of 0.90. 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 has a 1-year low of $262.11 and a 1-year high of $387.99.

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

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of institutional investors have recently bought and sold shares of the business. Metis Global Partners LLC increased its stake in Bio-Rad Laboratories by 4.4% in the 4th quarter. Metis Global Partners LLC now owns 712 shares of the medical research company’s stock worth $234,000 after buying an additional 30 shares in the last quarter. Signaturefd LLC grew its position in shares of Bio-Rad Laboratories by 13.2% during the fourth quarter. Signaturefd LLC now owns 265 shares of the medical research company’s stock valued at $87,000 after purchasing an additional 31 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of Bio-Rad Laboratories by 3.3% during the third quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock valued at $334,000 after purchasing an additional 32 shares in the last quarter. UMB Bank n.a. grew its position in shares of Bio-Rad Laboratories by 41.6% during the fourth 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 in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Bio-Rad Laboratories by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company’s stock valued at $1,488,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

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.