Bio-Rad Laboratories (NYSE:BIO) Price Target Cut to $345.00 by Analysts at Wells Fargo & Company

Bio-Rad Laboratories (NYSE:BIO) had its price objective decreased by Wells Fargo & Company from $360.00 to $345.00 in a report issued on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical research company’s stock.

Other equities analysts have also recently issued reports about the stock. Citigroup boosted their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Finally, StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $395.20.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $312.11 on Wednesday. The firm has a 50 day moving average of $340.05 and a 200-day moving average of $336.74. The stock has a market capitalization of $8.74 billion, a PE ratio of -11.42 and a beta of 0.90. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories has a 12 month low of $262.12 and a 12 month high of $387.99.

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of institutional investors have recently added to or reduced their stakes in BIO. UMB Bank n.a. grew its holdings in Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after acquiring an additional 45 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Bio-Rad Laboratories by 281.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 271 shares of the medical research company’s stock valued at $91,000 after purchasing an additional 200 shares during the last quarter. Creative Planning boosted its stake in shares of Bio-Rad Laboratories by 6.0% in the 3rd quarter. Creative Planning now owns 1,632 shares of the medical research company’s stock valued at $546,000 after purchasing an additional 93 shares during the last quarter. Paragon Capital Management Inc. boosted its stake in shares of Bio-Rad Laboratories by 3.2% in the 3rd quarter. Paragon Capital Management Inc. now owns 4,944 shares of the medical research company’s stock valued at $1,654,000 after purchasing an additional 151 shares during the last quarter. Finally, Marathon Asset Management Ltd boosted its stake in shares of Bio-Rad Laboratories by 0.5% in the 3rd quarter. Marathon Asset Management Ltd now owns 71,537 shares of the medical research company’s stock valued at $23,934,000 after purchasing an additional 344 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

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.