Bio-Rad Laboratories, Inc. (NYSE:BIO) Given Consensus Rating of “Moderate Buy” by Analysts

Bio-Rad Laboratories, Inc. (NYSE:BIO) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $391.80.

BIO has been the subject of several analyst reports. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada raised their price objective on Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Citigroup upped their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price target on the stock.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC lifted its stake in shares of Bio-Rad Laboratories by 193.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after buying an additional 62 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after acquiring an additional 45 shares in the last quarter. Gladius Capital Management LP bought a new position in shares of Bio-Rad Laboratories in the third quarter worth $32,000. Headlands Technologies LLC purchased a new position in shares of Bio-Rad Laboratories in the second quarter valued at $51,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at $55,000. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $325.50 on Monday. The firm has a market capitalization of $9.11 billion, a P/E ratio of -11.91 and a beta of 0.90. The firm’s 50-day moving average price is $341.22 and its 200-day moving average price is $319.41. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories has a 1-year low of $262.12 and a 1-year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $628.18 million. During the same quarter last year, the firm posted $2.33 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts anticipate that Bio-Rad Laboratories will post 10.29 earnings per share for the current fiscal 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.