Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $327.40 Consensus Target Price from Analysts

Bio-Rad Laboratories, Inc. (NYSE:BIO) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $327.40.

A number of analysts have recently issued reports on BIO shares. UBS Group reduced their price target on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Citigroup reduced their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Wells Fargo & Company reduced their price target on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Finally, Royal Bank of Canada lowered their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd.

Bio-Rad Laboratories Trading Down 5.9%

NYSE BIO opened at $238.30 on Thursday. Bio-Rad Laboratories has a twelve month low of $215.38 and a twelve month high of $387.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of -3.66 and a beta of 1.00. The firm’s 50 day moving average price is $243.64 and its two-hundred day moving average price is $299.90.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.81. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. The firm had revenue of $585.40 million for the quarter, compared to analysts’ expectations of $573.01 million. During the same period in the previous year, the company posted $2.30 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities analysts anticipate that Bio-Rad Laboratories will post 10.81 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC raised its holdings in shares of Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. GeoWealth Management LLC raised its holdings in shares of Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 72 shares in the last quarter. Picton Mahoney Asset Management raised its holdings in shares of Bio-Rad Laboratories by 55.6% during the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 35 shares in the last quarter. Asset Planning Inc bought a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at $33,000. Finally, Curat Global LLC bought a new position in shares of Bio-Rad Laboratories during the 1st quarter valued at $34,000. Hedge funds and other institutional investors 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.