Brokerages Set Bio-Rad Laboratories, Inc. (NYSE:BIO) PT at $394.20

Bio-Rad Laboratories, Inc. (NYSE:BIO) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $394.20.

BIO has been the topic of a number of analyst reports. Citigroup increased their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th.

Bio-Rad Laboratories Trading Down 2.1 %

BIO opened at $353.34 on Tuesday. The firm has a 50 day simple moving average of $340.61 and a 200 day simple moving average of $335.68. Bio-Rad Laboratories has a fifty-two week low of $262.12 and a fifty-two week high of $387.99. The company has a market cap of $9.89 billion, a price-to-earnings ratio of -12.93 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52.

Hedge Funds Weigh In On Bio-Rad Laboratories

Institutional investors have recently modified their holdings of the business. Van ECK Associates Corp raised 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 buying an additional 644,530 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Bio-Rad Laboratories during the third quarter worth $83,681,000. Wedge Capital Management L L P NC acquired a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth $28,740,000. Mawer Investment Management Ltd. lifted its position in Bio-Rad Laboratories by 63.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock valued at $72,900,000 after acquiring an additional 84,237 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in Bio-Rad Laboratories by 48.8% in the 4th quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company’s stock worth $27,817,000 after purchasing an additional 27,780 shares during the period. 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.