Analysts Set Bio-Rad Laboratories, Inc. (NYSE:BIO) PT at $468.00

Bio-Rad Laboratories, Inc. (NYSE:BIO) has received an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $468.00.

BIO has been the topic of several research reports. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price target for the company from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Royal Bank of Canada lowered their price target on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Finally, UBS Group increased their price target on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, February 16th.

Insider Activity at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the transaction, the executive vice president now owns 6,942 shares of the company’s stock, valued at $2,332,512. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Bio-Rad Laboratories by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,389,889 shares of the medical research company’s stock worth $771,671,000 after purchasing an additional 46,119 shares during the period. Brown Advisory Inc. raised its stake in shares of Bio-Rad Laboratories by 3.1% in the 3rd quarter. Brown Advisory Inc. now owns 955,732 shares of the medical research company’s stock valued at $342,582,000 after acquiring an additional 28,724 shares during the period. Earnest Partners LLC raised its stake in shares of Bio-Rad Laboratories by 25.6% in the 3rd quarter. Earnest Partners LLC now owns 351,510 shares of the medical research company’s stock valued at $125,999,000 after acquiring an additional 71,570 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in shares of Bio-Rad Laboratories by 11.5% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 348,473 shares of the medical research company’s stock valued at $112,518,000 after acquiring an additional 35,890 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Bio-Rad Laboratories by 8.0% in the 3rd quarter. Invesco Ltd. now owns 343,462 shares of the medical research company’s stock valued at $123,114,000 after acquiring an additional 25,562 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Down 2.7 %

Shares of BIO opened at $269.75 on Friday. The company has a current ratio of 5.83, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average is $323.67 and its two-hundred day moving average is $316.47. Bio-Rad Laboratories has a twelve month low of $261.59 and a twelve month high of $473.50. The firm has a market capitalization of $7.69 billion, a P/E ratio of -12.55 and a beta of 0.87.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, February 15th. The medical research company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.17. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The company had revenue of $681.18 million for the quarter, compared to analyst estimates of $685.00 million. During the same period in the prior year, the business posted $3.31 earnings per share. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, research analysts predict that Bio-Rad Laboratories will post 10.41 earnings per share for the current fiscal year.

About Bio-Rad Laboratories

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.