Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have received an average rating of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $380.20.

A number of equities analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating on the stock in a report on Thursday. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $481.00 price objective on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $238.02 on Friday. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of -3.66 and a beta of 1.12. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $255.62 and a 200-day moving average of $311.59. Bio-Rad Laboratories has a fifty-two week low of $215.38 and a fifty-two week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, analysts predict that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several institutional investors and hedge funds have recently bought and sold shares of BIO. Venturi Wealth Management LLC grew its position in shares of Bio-Rad Laboratories by 2,175.0% during the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after acquiring an additional 87 shares during the last quarter. GeoWealth Management LLC boosted its stake in Bio-Rad Laboratories by 342.9% during the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock valued at $31,000 after buying an additional 72 shares in the last quarter. Picton Mahoney Asset Management grew its stake in shares of Bio-Rad Laboratories by 55.6% in the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock worth $32,000 after purchasing an additional 35 shares during the last quarter. Asset Planning Inc bought a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at $33,000. Finally, Curat Global LLC acquired a new stake in shares of Bio-Rad Laboratories during the first quarter worth $34,000. Institutional investors and hedge funds 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.