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

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $395.20.

A number of analysts have issued reports on BIO shares. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Wells Fargo & Company cut their price target 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 reiterated an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th.

Bio-Rad Laboratories Price Performance

NYSE:BIO opened at $256.42 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of -3.94 and a beta of 0.98. The company has a 50 day moving average price of $303.23 and a 200-day moving average price of $325.34. Bio-Rad Laboratories has a 1-year low of $244.00 and a 1-year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 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%. Equities research analysts forecast that Bio-Rad Laboratories will post 10.81 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Bio-Rad Laboratories in the 4th quarter valued at about $3,494,000. Mackenzie Financial Corp purchased a new stake in Bio-Rad Laboratories in the 4th quarter valued at about $207,000. Toronto Dominion Bank grew its holdings in Bio-Rad Laboratories by 9.3% in the 4th quarter. Toronto Dominion Bank now owns 4,052 shares of the medical research company’s stock valued at $1,331,000 after buying an additional 346 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Bio-Rad Laboratories in the 4th quarter valued at about $2,211,000. Finally, Sone Capital Management LLC purchased a new stake in Bio-Rad Laboratories in the 4th quarter valued at about $6,663,000. 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.