Bio-Rad Laboratories (NYSE:BIO) Sets New 1-Year Low – Here’s Why

Bio-Rad Laboratories, Inc. (NYSE:BIO) reached a new 52-week low on Friday . The company traded as low as $262.11 and last traded at $262.60, with a volume of 137101 shares trading hands. The stock had previously closed at $265.63.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BIO shares. Wells Fargo & Company lowered 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 research note on Wednesday, February 12th. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $395.20.

Bio-Rad Laboratories Stock Performance

The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of -4.07 and a beta of 0.90. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18. The stock’s 50-day simple moving average is $327.02 and its 200 day simple moving average is $332.57.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results 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 expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bio-Rad Laboratories

Large investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Bio-Rad Laboratories in the fourth quarter valued at approximately $3,494,000. Mackenzie Financial Corp acquired a new position in Bio-Rad Laboratories in the fourth quarter valued at approximately $207,000. Toronto Dominion Bank lifted its holdings in Bio-Rad Laboratories by 9.3% in the fourth quarter. Toronto Dominion Bank now owns 4,052 shares of the medical research company’s stock valued at $1,331,000 after buying an additional 346 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Bio-Rad Laboratories in the fourth quarter valued at approximately $2,211,000. Finally, Sone Capital Management LLC acquired a new position in Bio-Rad Laboratories in the fourth quarter valued at approximately $6,663,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

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.