Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $358.20 Average Price Target from Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have earned a consensus recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $358.20.

Several research firms recently issued reports on BIO. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price objective for the company. Citigroup increased their price target on shares of Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $401.00 price target on shares of Bio-Rad Laboratories in a report on Friday, August 16th. UBS Group reduced their price target on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $315.00 price target (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd.

Bio-Rad Laboratories Price Performance

NYSE BIO opened at $330.65 on Friday. The company has a current ratio of 6.28, a quick ratio of 4.63 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $311.10 and a 200 day simple moving average of $308.14. The company has a market cap of $9.43 billion, a P/E ratio of -31.92 and a beta of 0.93. Bio-Rad Laboratories has a 1 year low of $261.59 and a 1 year high of $394.51.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.99. The business had revenue of $638.50 million during the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. Bio-Rad Laboratories’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 EPS. On average, sell-side analysts predict that Bio-Rad Laboratories will post 10.31 EPS for the current year.

Insider Activity

In other news, EVP James Barry sold 623 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the transaction, the executive vice president now owns 147 shares in the company, valued at approximately $48,582.03. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Michael Crowley sold 369 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $281.91, for a total transaction of $104,024.79. Following the completion of the sale, the executive vice president now owns 6,573 shares in the company, valued at approximately $1,852,994.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Barry sold 623 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the sale, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. The disclosure for this sale can be found here. Corporate insiders own 17.06% of the company’s stock.

Institutional Investors Weigh In On Bio-Rad Laboratories

Hedge funds have recently made changes to their positions in the company. Capital Advisors Ltd. LLC increased its position in shares of Bio-Rad Laboratories by 193.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after purchasing an additional 62 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Bio-Rad Laboratories in the 1st quarter valued at about $38,000. Gladius Capital Management LP increased its position in Bio-Rad Laboratories by 65.8% in the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 48 shares in the last quarter. Principal Securities Inc. acquired a new stake in Bio-Rad Laboratories in the 4th quarter valued at about $41,000. Finally, GAMMA Investing LLC acquired a new stake in Bio-Rad Laboratories in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

About Bio-Rad Laboratories

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.