Bio-Rad Laboratories, Inc. (BIO) Receives Average Recommendation of “Buy” from Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have earned an average recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $260.00.

BIO has been the subject of a number of research analyst reports. TheStreet lowered shares of Bio-Rad Laboratories from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $255.00 price objective on shares of Bio-Rad Laboratories in a report on Monday, September 18th.

Shares of Bio-Rad Laboratories (BIO) opened at $253.22 on Wednesday. The stock has a market cap of $8,830.00, a PE ratio of 81.96, a PEG ratio of 3.90 and a beta of 0.88. The company has a quick ratio of 2.77, a current ratio of 4.06 and a debt-to-equity ratio of 0.15. Bio-Rad Laboratories has a twelve month low of $169.19 and a twelve month high of $268.40.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.37. Bio-Rad Laboratories had a net margin of 1.15% and a return on equity of 3.44%. The company had revenue of $535.00 million during the quarter, compared to analyst estimates of $507.99 million. During the same quarter last year, the business posted $0.62 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. research analysts expect that Bio-Rad Laboratories will post 2.65 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in BIO. Canada Pension Plan Investment Board bought a new stake in Bio-Rad Laboratories during the 2nd quarter valued at about $113,000. Pacad Investment Ltd. bought a new stake in shares of Bio-Rad Laboratories in the 2nd quarter valued at about $113,000. First Manhattan Co. raised its holdings in shares of Bio-Rad Laboratories by 71.6% in the 3rd quarter. First Manhattan Co. now owns 599 shares of the medical research company’s stock valued at $133,000 after purchasing an additional 250 shares in the last quarter. Turner Investments LLC bought a new stake in shares of Bio-Rad Laboratories in the 2nd quarter valued at about $136,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Bio-Rad Laboratories by 3,333.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 618 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 64.27% of the company’s stock.

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Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.

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