Bio-Rad Laboratories (NYSE:BIO) Reaches New 12-Month Low – What’s Next?

Bio-Rad Laboratories, Inc. (NYSE:BIO)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $247.50 and last traded at $247.66, with a volume of 175250 shares changing hands. The stock had previously closed at $261.19.

Analysts Set New Price Targets

BIO has been the subject of a number of analyst reports. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Bio-Rad Laboratories has an average rating of “Moderate Buy” and a consensus price target of $395.20.

Bio-Rad Laboratories Stock Performance

The company has a market capitalization of $6.99 billion, a P/E ratio of -3.84 and a beta of 0.98. The business has a 50 day moving average of $319.72 and a 200 day moving average of $330.35. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18.

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

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIO. Venturi Wealth Management LLC raised its holdings in Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock valued at $30,000 after buying an additional 87 shares during the period. GeoWealth Management LLC lifted its holdings in shares of Bio-Rad Laboratories by 342.9% in the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock worth $31,000 after acquiring an additional 72 shares during the last quarter. Gladius Capital Management LP purchased a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth about $32,000. Picton Mahoney Asset Management grew its holdings in Bio-Rad Laboratories by 55.6% during the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 35 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in Bio-Rad Laboratories in the 4th quarter worth about $33,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

About Bio-Rad Laboratories

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.