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

Bio-Rad Laboratories, Inc. (NYSE:BIO) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $395.20.

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Citigroup upped their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company dropped their price objective on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th.

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth about $207,000. Toronto Dominion Bank lifted its position in shares of Bio-Rad Laboratories by 9.3% in the fourth quarter. Toronto Dominion Bank now owns 4,052 shares of the medical research company’s stock worth $1,331,000 after buying an additional 346 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth about $2,211,000. Sone Capital Management LLC purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth about $6,663,000. Finally, Two Sigma Investments LP raised its position in Bio-Rad Laboratories by 70.3% during the fourth quarter. Two Sigma Investments LP now owns 2,050 shares of the medical research company’s stock valued at $673,000 after purchasing an additional 846 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $280.20 on Friday. The stock has a 50-day simple moving average of $331.62 and a two-hundred day simple moving average of $334.10. Bio-Rad Laboratories has a 52-week low of $262.12 and a 52-week high of $387.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. The firm has a market capitalization of $7.85 billion, a PE ratio of -4.31 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) 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%. Analysts forecast that Bio-Rad Laboratories will post 10.81 EPS 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.