Brokerages Set Bio-Rad Laboratories, Inc. (NYSE:BIO) Target Price at $395.20

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIOGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $395.20.

Several analysts have issued reports on BIO shares. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Wells Fargo & Company cut their target price on shares of 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th.

Read Our Latest Analysis on BIO

Hedge Funds Weigh In On Bio-Rad Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC boosted its holdings in Bio-Rad Laboratories by 2,175.0% during the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 87 shares during the period. GeoWealth Management LLC increased its position 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 stake 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 valued at $32,000 after purchasing an additional 35 shares during the last quarter. Asset Planning Inc bought a new position in shares of Bio-Rad Laboratories during the 4th quarter worth about $33,000. Finally, Curat Global LLC acquired a new position in shares of Bio-Rad Laboratories during the first quarter valued at about $34,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Down 1.8 %

BIO stock opened at $245.23 on Friday. Bio-Rad Laboratories has a 52 week low of $215.38 and a 52 week high of $387.99. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of -3.77 and a beta of 1.12. The firm’s 50-day moving average is $260.84 and its two-hundred day moving average is $313.63. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIOGet Free Report) last announced its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, beating the consensus estimate 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%. On average, analysts forecast that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.

Bio-Rad Laboratories Company Profile

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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.

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Analyst Recommendations for Bio-Rad Laboratories (NYSE:BIO)

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