Bio-Rad Laboratories (NYSE:BIO) Reaches New 1-Year Low – Here’s Why

Bio-Rad Laboratories, Inc. (NYSE:BIO) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $235.84 and last traded at $244.29, with a volume of 395196 shares changing hands. The stock had previously closed at $243.00.

Analyst Ratings Changes

BIO has been the topic of a number of research reports. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Wells Fargo & Company reduced 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 note on Wednesday, February 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $395.20.

Bio-Rad Laboratories Stock Performance

The company’s 50-day moving average price is $291.56 and its two-hundred day moving average price is $321.95. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of -3.76 and a beta of 0.98. 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 (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%. On average, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Bio-Rad Laboratories

Institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at $3,494,000. Mackenzie Financial Corp bought a new position in Bio-Rad Laboratories in the 4th quarter valued at about $207,000. Toronto Dominion Bank boosted its position in shares of Bio-Rad Laboratories by 9.3% during the fourth quarter. Toronto Dominion Bank now owns 4,052 shares of the medical research company’s stock valued at $1,331,000 after buying an additional 346 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth $2,211,000. Finally, Sone Capital Management LLC purchased a new position in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $6,663,000. 65.24% of the stock is owned by institutional investors and hedge funds.

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.