Bio-Rad Laboratories (NYSE:BIO) Price Target Raised to $469.00

Bio-Rad Laboratories (NYSE:BIO) had its price objective increased by Royal Bank of Canada from $446.00 to $469.00 in a report issued on Thursday, Benzinga reports. The firm currently has an outperform rating on the medical research company’s stock.

A number of other brokerages have also issued reports on BIO. Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 target price on the stock. Citigroup upgraded shares of Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and increased their target price for the stock from $350.00 to $400.00 in a research report on Tuesday, October 1st. Finally, StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $391.80.

Bio-Rad Laboratories Stock Up 2.9 %

Shares of BIO opened at $368.42 on Thursday. Bio-Rad Laboratories has a 52 week low of $262.12 and a 52 week high of $372.27. The firm has a market cap of $10.27 billion, a P/E ratio of -13.48 and a beta of 0.95. The firm’s 50-day simple moving average is $333.99 and its 200 day simple moving average is $308.47. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.63 and a current ratio of 6.28.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.73. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.66%. The business had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. During the same quarter in the prior year, the business earned $2.33 EPS. Bio-Rad Laboratories’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts forecast that Bio-Rad Laboratories will post 9.45 earnings per share for the current year.

Insider Transactions at Bio-Rad Laboratories

In other news, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the completion of the sale, the chief operating officer now owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP James Barry sold 623 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the sale, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $329.94, for a total transaction of $989,820.00. Following the sale, the chief operating officer now directly owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bio-Rad Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in Bio-Rad Laboratories by 140.6% in the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Bio-Rad Laboratories by 193.8% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. EntryPoint Capital LLC bought a new position in Bio-Rad Laboratories in the 1st quarter valued at approximately $51,000. Headlands Technologies LLC bought a new position in Bio-Rad Laboratories in the 2nd quarter valued at approximately $51,000. Finally, Quarry LP bought a new position in Bio-Rad Laboratories in the 2nd quarter valued at approximately $59,000. 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.