Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have received an average recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $394.20.

A number of equities analysts have weighed in on the stock. Citigroup upped their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their target price on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BIO. First Eagle Investment Management LLC lifted its position in shares of Bio-Rad Laboratories by 32,296.9% in the second quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after buying an additional 634,311 shares in the last quarter. Principal Financial Group Inc. increased its stake in Bio-Rad Laboratories by 95.6% in the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock worth $14,836,000 after acquiring an additional 21,669 shares during the last quarter. Mawer Investment Management Ltd. raised its holdings in shares of Bio-Rad Laboratories by 63.0% during the 3rd quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock worth $72,900,000 after acquiring an additional 84,237 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Bio-Rad Laboratories by 193.3% during the 3rd quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock valued at $1,161,000 after acquiring an additional 2,287 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Bio-Rad Laboratories by 341.7% during the 3rd quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the medical research company’s stock valued at $1,773,000 after acquiring an additional 4,100 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock opened at $326.16 on Friday. The stock’s fifty day moving average is $338.94 and its 200 day moving average is $325.12. Bio-Rad Laboratories has a one year low of $262.12 and a one year high of $387.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. The stock has a market cap of $9.13 billion, a P/E ratio of -11.93 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.16 by $0.85. The firm had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.33 earnings per share. Sell-side analysts anticipate that Bio-Rad Laboratories will post 10.29 earnings per share for the current year.

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.