Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $664.75 Consensus PT from Analysts

Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) has been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $664.75.

A number of equities research analysts recently commented on BIO shares. Credit Suisse Group raised their price objective on shares of Bio-Rad Laboratories from $640.00 to $680.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. StockNews.com assumed coverage on shares of Bio-Rad Laboratories in a research note on Thursday. They issued a “buy” rating on the stock. TheStreet upgraded shares of Bio-Rad Laboratories from a “d+” rating to a “c” rating in a research note on Thursday, February 16th. Finally, Royal Bank of Canada lifted their price target on shares of Bio-Rad Laboratories from $571.00 to $579.00 and gave the company an “outperform” rating in a research note on Friday, February 17th.

Insider Buying and Selling

In related news, EVP Timothy S. Ernst sold 1,746 shares of Bio-Rad Laboratories stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $486.43, for a total transaction of $849,306.78. Following the completion of the sale, the executive vice president now owns 2,671 shares of the company’s stock, valued at approximately $1,299,254.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 27.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several institutional investors and hedge funds have recently bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new stake in shares of Bio-Rad Laboratories during the 2nd quarter worth $26,000. Private Trust Co. NA lifted its stake in Bio-Rad Laboratories by 230.0% in the 3rd quarter. Private Trust Co. NA now owns 66 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 46 shares during the last quarter. Heritage Wealth Management LLC boosted its position in Bio-Rad Laboratories by 100.0% in the fourth quarter. Heritage Wealth Management LLC now owns 66 shares of the medical research company’s stock valued at $28,000 after buying an additional 33 shares in the last quarter. WASHINGTON TRUST Co grew its stake in shares of Bio-Rad Laboratories by 62.5% during the fourth quarter. WASHINGTON TRUST Co now owns 78 shares of the medical research company’s stock worth $33,000 after buying an additional 30 shares during the last quarter. Finally, CI Investments Inc. increased its holdings in shares of Bio-Rad Laboratories by 50.0% during the fourth quarter. CI Investments Inc. now owns 84 shares of the medical research company’s stock worth $35,000 after buying an additional 28 shares in the last quarter. Institutional investors own 64.35% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $469.87 on Thursday. The company’s fifty day moving average is $471.22 and its 200-day moving average is $437.22. Bio-Rad Laboratories has a twelve month low of $344.63 and a twelve month high of $607.54. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.55 and a quick ratio of 4.29.

Bio-Rad Laboratories (NYSE:BIO – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The medical research company reported $3.31 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.14). The firm had revenue of $730.29 million for the quarter, compared to the consensus estimate of $741.01 million. Bio-Rad Laboratories had a positive return on equity of 4.59% and a negative net margin of 129.66%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.21 earnings per share. On average, equities analysts predict that Bio-Rad Laboratories will post 15.91 earnings per share for the current year.

About Bio-Rad Laboratories

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Bio-Rad Laboratories, Inc engages in the development and production of specialty chemicals used in biochemical, pharmaceutical, and other life science research applications. It operates through the Life Sciences and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments.