Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $395.20 Consensus Target Price from Brokerages

Bio-Rad Laboratories, Inc. (NYSE:BIO) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $395.20.

BIO has been the subject of a number of research analyst reports. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company lowered their price target on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th.

Institutional Trading of Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Metis Global Partners LLC boosted its stake in shares of Bio-Rad Laboratories by 4.4% during the 4th quarter. Metis Global Partners LLC now owns 712 shares of the medical research company’s stock worth $234,000 after acquiring an additional 30 shares during the last quarter. Signaturefd LLC lifted its position in Bio-Rad Laboratories by 13.2% during the fourth quarter. Signaturefd LLC now owns 265 shares of the medical research company’s stock valued at $87,000 after purchasing an additional 31 shares in the last quarter. Avior Wealth Management LLC lifted its position in Bio-Rad Laboratories by 3.3% during the third quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock valued at $334,000 after purchasing an additional 32 shares in the last quarter. UMB Bank n.a. grew its holdings in Bio-Rad Laboratories by 41.6% during the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 32 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Bio-Rad Laboratories by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company’s stock worth $1,488,000 after buying an additional 32 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

BIO stock opened at $256.42 on Wednesday. The stock has a market capitalization of $7.18 billion, a PE ratio of -3.94 and a beta of 0.98. The stock’s 50 day simple moving average is $303.23 and its 200 day simple moving average is $325.24. Bio-Rad Laboratories has a 12-month low of $244.00 and a 12-month high of $387.99. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating the consensus estimate 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%. As a group, research analysts forecast that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.

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.