Goldman Sachs Group Upgrades Bio-Rad Laboratories (NYSE:BIO) to “Conviction-Buy”

Goldman Sachs Group upgraded shares of Bio-Rad Laboratories (NYSE:BIO) from a buy rating to a conviction-buy rating in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. The firm currently has $400.00 price objective on the medical research company’s stock.

Several other equities research analysts have also recently weighed in on BIO. Deutsche Bank upped their price target on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a buy rating in a research report on Thursday, May 9th. Zacks Investment Research cut shares of Bio-Rad Laboratories from a strong-buy rating to a hold rating in a research report on Wednesday, May 1st. Barclays upped their price target on shares of Bio-Rad Laboratories from $350.00 to $380.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Bio-Rad Laboratories from a hold rating to a buy rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Bio-Rad Laboratories presently has an average rating of Buy and an average price target of $378.33.

Shares of BIO stock opened at $332.67 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.68 and a quick ratio of 3.36. The company has a market capitalization of $10.26 billion, a P/E ratio of 54.98, a P/E/G ratio of 3.19 and a beta of 1.21. The company’s 50-day simple moving average is $320.67 and its two-hundred day simple moving average is $302.23. Bio-Rad Laboratories has a one year low of $220.05 and a one year high of $345.50.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, August 1st. The medical research company reported $1.57 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.18. The business had revenue of $572.60 million for the quarter, compared to the consensus estimate of $564.88 million. Bio-Rad Laboratories had a net margin of 39.32% and a return on equity of 3.92%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 EPS. On average, research analysts expect that Bio-Rad Laboratories will post 7.19 EPS for the current fiscal year.

In other news, EVP Timothy S. Ernst sold 310 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $320.00, for a total value of $99,200.00. Following the completion of the sale, the executive vice president now owns 3,100 shares of the company’s stock, valued at approximately $992,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 27.84% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Motco purchased a new stake in Bio-Rad Laboratories during the second quarter valued at approximately $25,000. Berman Capital Advisors LLC purchased a new stake in Bio-Rad Laboratories during the second quarter valued at approximately $26,000. Quadrant Capital Group LLC lifted its position in Bio-Rad Laboratories by 205.9% during the first quarter. Quadrant Capital Group LLC now owns 104 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 70 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new stake in Bio-Rad Laboratories during the second quarter valued at approximately $48,000. Finally, Advisory Services Network LLC increased its stake in Bio-Rad Laboratories by 64.9% during the 2nd quarter. Advisory Services Network LLC now owns 160 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 63 shares in the last quarter. 61.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

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Analyst Recommendations for Bio-Rad Laboratories (NYSE:BIO)

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