Bio-Rad Laboratories (NYSE:BIO) Downgraded by StockNews.com to “Hold”

Bio-Rad Laboratories (NYSE:BIO) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Other equities research analysts have also recently issued research reports about the company. Citigroup increased their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Finally, Wells Fargo & Company cut their target price on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $395.20.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock traded down $29.81 during mid-day trading on Monday, reaching $276.55. 1,065,491 shares of the stock traded hands, compared to its average volume of 151,421. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $337.34 and a 200 day moving average of $335.68. The stock has a market capitalization of $7.74 billion, a PE ratio of -10.12 and a beta of 0.90. Bio-Rad Laboratories has a fifty-two week low of $262.12 and a fifty-two week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. On average, analysts predict that Bio-Rad Laboratories will post 10.33 EPS for the current year.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several large investors have recently bought and sold shares of the stock. Wealthfront Advisers LLC purchased a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth approximately $342,686,000. Van ECK Associates Corp grew its holdings in Bio-Rad Laboratories by 97.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock worth $436,861,000 after acquiring an additional 644,530 shares in the last quarter. Bank of America Corp DE increased its position in shares of Bio-Rad Laboratories by 705.9% in the 4th quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company’s stock valued at $140,370,000 after purchasing an additional 374,269 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Bio-Rad Laboratories in the 3rd quarter valued at $83,681,000. Finally, Ariel Investments LLC lifted its position in shares of Bio-Rad Laboratories by 48.0% during the 4th quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company’s stock worth $184,138,000 after purchasing an additional 181,829 shares during the last quarter. Hedge funds and other institutional investors 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.