Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $358.20 Average PT from Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have received a consensus rating of “Hold” from the five research firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $358.20.

BIO has been the subject of several research reports. Citigroup lifted their price target on shares of Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company assumed coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price objective for the company. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $401.00 price target on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd.

Insider Activity at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the sale, the executive vice president now directly owns 147 shares of the company’s stock, valued at approximately $48,582.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP James Barry sold 623 shares of Bio-Rad Laboratories stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the sale, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Crowley sold 369 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $281.91, for a total value of $104,024.79. Following the completion of the transaction, the executive vice president now owns 6,573 shares of the company’s stock, valued at approximately $1,852,994.43. The disclosure for this sale can be found here. 17.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIO. Capital Advisors Ltd. LLC raised its holdings in shares of Bio-Rad Laboratories by 193.8% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after purchasing an additional 62 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Bio-Rad Laboratories in the first quarter valued at $38,000. Gladius Capital Management LP lifted its position in shares of Bio-Rad Laboratories by 65.8% during the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after buying an additional 48 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Bio-Rad Laboratories during the 4th quarter worth $41,000. Finally, GAMMA Investing LLC purchased a new stake in Bio-Rad Laboratories in the 4th quarter worth about $42,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Trading Down 1.0 %

BIO opened at $329.85 on Friday. The company has a market cap of $9.41 billion, a P/E ratio of -31.84 and a beta of 0.95. The company has a fifty day moving average price of $313.46 and a two-hundred day moving average price of $308.24. The company has a current ratio of 6.28, a quick ratio of 4.63 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories has a 1-year low of $261.59 and a 1-year high of $384.37.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.99. The business had revenue of $638.50 million for the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a positive return on equity of 3.77% and a negative net margin of 51.73%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.00 EPS. Analysts predict that Bio-Rad Laboratories will post 10.31 EPS for the current fiscal 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.