Bio-Rad Laboratories (NYSE:BIO) Sets New 12-Month Low – Here’s What Happened

Bio-Rad Laboratories, Inc. (NYSE:BIO)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $215.38 and last traded at $217.55, with a volume of 21241 shares changing hands. The stock had previously closed at $225.60.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BIO. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Royal Bank of Canada restated an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company lowered their price objective on 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $395.20.

Bio-Rad Laboratories Price Performance

The stock has a fifty day moving average of $273.74 and a two-hundred day moving average of $316.97. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of -3.82 and a beta of 1.12.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC increased its stake in shares of Bio-Rad Laboratories by 2,175.0% in the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock valued at $30,000 after buying an additional 87 shares during the period. GeoWealth Management LLC lifted its holdings in Bio-Rad Laboratories by 342.9% in the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock valued at $31,000 after buying an additional 72 shares during the period. Picton Mahoney Asset Management grew its holdings in Bio-Rad Laboratories by 55.6% during the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock worth $32,000 after acquiring an additional 35 shares during the period. Asset Planning Inc bought a new position in shares of Bio-Rad Laboratories in the 4th quarter worth $33,000. Finally, UMB Bank n.a. grew its stake in shares of Bio-Rad Laboratories by 41.6% during the fourth 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 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.