Brokerages Set Bio-Rad Laboratories, Inc. (NYSE:BIO) Target Price at $343.33

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have been given a consensus rating of “Hold” by the five ratings firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $343.3333.

Several brokerages have issued reports on BIO. Weiss Ratings upgraded shares of Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Wells Fargo & Company lifted their price target on Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Citigroup lifted their target price on Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th.

Bio-Rad Laboratories Trading Down 0.1%

Shares of Bio-Rad Laboratories stock opened at $368.97 on Monday. The stock has a market cap of $9.87 billion, a P/E ratio of 44.72 and a beta of 1.07. The company has a quick ratio of 2.33, a current ratio of 3.14 and a debt-to-equity ratio of 0.11. Bio-Rad Laboratories has a 12-month low of $236.73 and a 12-month high of $396.23. The business’s 50 day moving average is $344.36 and its 200-day moving average is $303.39.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.87. The company had revenue of $651.00 million for the quarter, compared to analyst estimates of $623.99 million. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. Bio-Rad Laboratories’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.61 EPS. Equities research analysts predict that Bio-Rad Laboratories will post 9.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new position in shares of Bio-Rad Laboratories during the second quarter worth approximately $27,000. Hollencrest Capital Management acquired a new stake in Bio-Rad Laboratories during the first quarter worth approximately $28,000. Geneos Wealth Management Inc. grew its position in Bio-Rad Laboratories by 115.2% during the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after buying an additional 76 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Bio-Rad Laboratories during the 4th quarter worth $47,000. Finally, Itau Unibanco Holding S.A. increased its stake in Bio-Rad Laboratories by 57.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company’s stock worth $60,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc is a life science research and clinical diagnostics company headquartered in Hercules, California. Founded in 1952 by David and Alice Schwartz, the company develops, manufactures and markets products used by academic, pharmaceutical, biotechnology, healthcare and government customers.

Its Life Science segment provides instruments, reagents, consumables and software for applications including genomics, digital PCR, gene expression analysis, protein purification, cell biology and biopharmaceutical quality control.