Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $395.20 Consensus PT from Analysts

Bio-Rad Laboratories, Inc. (NYSE:BIO) has been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $395.20.

BIO has been the subject of several recent analyst reports. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Wells Fargo & Company cut their price target on 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 restated an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th.

Bio-Rad Laboratories Stock Down 1.8 %

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

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 anticipate that Bio-Rad Laboratories will post 10.81 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BIO. Venturi Wealth Management LLC lifted its position 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 worth $30,000 after acquiring an additional 87 shares during the last quarter. GeoWealth Management LLC lifted 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 purchasing an additional 72 shares during the period. Picton Mahoney Asset Management grew its stake in Bio-Rad Laboratories by 55.6% during the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock worth $32,000 after buying an additional 35 shares in the last quarter. Asset Planning Inc bought a new position in Bio-Rad Laboratories in the 4th quarter valued at about $33,000. Finally, Curat Global LLC bought a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $34,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

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.