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

Bio-Rad Laboratories, Inc. (NYSE:BIO) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $394.20.

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Citigroup raised their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada upped their target price on Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th.

Bio-Rad Laboratories Stock Performance

BIO opened at $344.52 on Friday. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $339.69 and its 200-day moving average is $326.93. The stock has a market cap of $9.65 billion, a PE ratio of -12.61 and a beta of 0.90. Bio-Rad Laboratories has a twelve month low of $262.12 and a twelve month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The firm had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. During the same quarter in the previous year, the business earned $2.33 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts predict that Bio-Rad Laboratories will post 10.29 earnings per share for the current year.

Institutional Trading of Bio-Rad Laboratories

A number of large investors have recently added to or reduced their stakes in BIO. UMB Bank n.a. lifted its position in shares of Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 45 shares during the last quarter. Gladius Capital Management LP acquired a new position in shares of Bio-Rad Laboratories in the 3rd quarter valued at $32,000. Headlands Technologies LLC purchased a new position in Bio-Rad Laboratories in the 2nd quarter worth about $51,000. Point72 Hong Kong Ltd purchased a new position in shares of Bio-Rad Laboratories in the third quarter worth approximately $55,000. Finally, Quarry LP acquired a new stake in shares of Bio-Rad Laboratories during the second quarter valued at approximately $59,000. 65.24% of the stock is currently owned by institutional investors.

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.