Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Average Recommendation of “Moderate Buy” from Analysts

Bio-Rad Laboratories, Inc. (NYSE:BIO) has received a consensus rating of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $395.20.

A number of research firms have recently commented on BIO. StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Wells Fargo & Company dropped their target price on shares of 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th.

Hedge Funds Weigh In On Bio-Rad Laboratories

Large investors have recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its holdings in Bio-Rad Laboratories by 2,175.0% during the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after purchasing an additional 87 shares during the last quarter. GeoWealth Management LLC lifted its position in Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock worth $31,000 after buying an additional 72 shares in the last quarter. Picton Mahoney Asset Management boosted its stake 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 worth $32,000 after buying an additional 35 shares during the last quarter. Asset Planning Inc bought a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at about $33,000. Finally, UMB Bank n.a. increased its position in shares of Bio-Rad Laboratories by 41.6% in the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Down 3.7 %

Shares of NYSE:BIO opened at $247.16 on Wednesday. The company has a 50 day moving average price of $299.43 and a two-hundred day moving average price of $324.12. 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 company has a market capitalization of $6.92 billion, a PE ratio of -3.80 and a beta of 0.98. Bio-Rad Laboratories has a 52 week low of $244.00 and a 52 week high of $387.99.

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 analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. Analysts forecast that Bio-Rad Laboratories will post 10.81 earnings per share for the current year.

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.