By otakuyassine3@gmail.com 
Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $394.20.
BIO has been the subject of several analyst reports. Citigroup increased their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the company an “outperform” rating in a research note on Monday, December 9th.
Bio-Rad Laboratories Trading Down 1.1 %
BIO opened at $336.28 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. Bio-Rad Laboratories has a fifty-two week low of $262.12 and a fifty-two week high of $387.99. The firm has a market capitalization of $9.41 billion, a PE ratio of -12.30 and a beta of 0.90. The company’s 50-day moving average is $341.35 and its 200 day moving average is $321.29.
Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. During the same quarter in the prior year, the business posted $2.33 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, research analysts predict that Bio-Rad Laboratories will post 10.29 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of BIO. Cetera Advisors LLC bought a new position in shares of Bio-Rad Laboratories during the 1st quarter valued at approximately $404,000. CWM LLC grew its position in shares of Bio-Rad Laboratories by 15.7% during the 2nd quarter. CWM LLC now owns 759 shares of the medical research company’s stock valued at $207,000 after acquiring an additional 103 shares during the period. Czech National Bank grew its position in shares of Bio-Rad Laboratories by 5.6% during the 2nd quarter. Czech National Bank now owns 3,888 shares of the medical research company’s stock valued at $1,062,000 after acquiring an additional 206 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Bio-Rad Laboratories by 9.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 947 shares of the medical research company’s stock worth $259,000 after buying an additional 82 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Bio-Rad Laboratories by 36.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 54,332 shares of the medical research company’s stock worth $14,839,000 after buying an additional 14,457 shares during the period. 65.24% of the stock is owned by institutional investors.
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.
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