Brokerages Set Bio-Rad Laboratories, Inc. (NYSE:BIO) Target Price at $327.40

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have been given an average rating of “Moderate Buy” by the four analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $330.50.

BIO has been the subject of several recent analyst reports. Wells Fargo & Company cut their target price on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada reduced their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. UBS Group decreased their target price on Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Citigroup cut their price target on Bio-Rad Laboratories from $400.00 to $350.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Sunday.

Institutional Trading of Bio-Rad Laboratories

Several hedge funds have recently added to or reduced their stakes in BIO. Venturi Wealth Management LLC boosted its holdings in 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 purchasing an additional 87 shares during the period. GeoWealth Management LLC raised its position in shares of 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 in the last quarter. Picton Mahoney Asset Management raised its position in shares of Bio-Rad Laboratories by 55.6% in the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock valued at $32,000 after buying an additional 35 shares in the last quarter. Asset Planning Inc bought a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $33,000. Finally, Cape Investment Advisory Inc. bought a new position in Bio-Rad Laboratories during the 4th quarter worth $38,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Up 0.5%

NYSE:BIO opened at $220.42 on Monday. Bio-Rad Laboratories has a twelve month low of $211.43 and a twelve month high of $387.99. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of -3.39 and a beta of 0.93. 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 moving average price is $236.54 and its two-hundred day moving average price is $285.07.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.81. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. The business had revenue of $585.40 million during the quarter, compared to analysts’ expectations of $573.01 million. During the same period last year, the business earned $2.30 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. Equities research analysts expect that Bio-Rad Laboratories will post 10.81 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.