Bio-Rad Laboratories (NYSE:BIO) Hits New 1-Year Low – What’s Next?

Bio-Rad Laboratories, Inc. (NYSE:BIO) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $243.76 and last traded at $245.16, with a volume of 90768 shares. The stock had previously closed at $247.31.

Wall Street Analyst Weigh In

BIO has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, 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 for the company in a research note on Wednesday, February 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $395.20.

Bio-Rad Laboratories Trading Down 1.5 %

The company has a 50 day simple moving average of $295.53 and a two-hundred day simple moving average of $323.04. 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 firm has a market cap of $6.82 billion, a PE ratio of -3.74 and a beta of 0.98.

Bio-Rad Laboratories (NYSE:BIO) last issued its 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 positive return on equity of 3.90% and a negative net margin of 71.86%. Analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Institutional Trading of Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in BIO. Venturi Wealth Management LLC grew its position in Bio-Rad Laboratories by 2,175.0% during the 4th 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 period. GeoWealth Management LLC grew its holdings in Bio-Rad Laboratories by 342.9% during the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock worth $31,000 after acquiring an additional 72 shares during the period. Picton Mahoney Asset Management raised its position in Bio-Rad Laboratories by 55.6% during the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 35 shares in the last quarter. Asset Planning Inc acquired a new position in Bio-Rad Laboratories in the fourth quarter valued at approximately $33,000. Finally, UMB Bank n.a. boosted its position in Bio-Rad Laboratories by 41.6% in the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock worth $36,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

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.