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

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

A number of brokerages recently issued reports on BIO. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and issued a $401.00 price target on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a $315.00 price objective (down previously from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price objective on the stock. Finally, Citigroup boosted their target price 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.

Insider Activity at Bio-Rad Laboratories

In other news, COO Andrew J. Last sold 3,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the sale, the chief operating officer now owns 7,559 shares of the company’s stock, valued at $2,494,016.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $329.94, for a total value of $989,820.00. Following the sale, the chief operating officer now directly owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction, the executive vice president now directly owns 147 shares of the company’s stock, valued at approximately $48,582.03. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by company insiders.

Institutional Trading of Bio-Rad Laboratories

Large investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in Bio-Rad Laboratories by 36.8% during the 4th quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock worth $55,000 after buying an additional 46 shares during the period. Wahed Invest LLC lifted its holdings in shares of Bio-Rad Laboratories by 14.0% in the 1st quarter. Wahed Invest LLC now owns 399 shares of the medical research company’s stock worth $138,000 after purchasing an additional 49 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Bio-Rad Laboratories by 7.7% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 836 shares of the medical research company’s stock valued at $289,000 after purchasing an additional 60 shares during the period. Capital Advisors Ltd. LLC increased its stake in Bio-Rad Laboratories by 193.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 62 shares in the last quarter. Finally, Natixis raised its holdings in Bio-Rad Laboratories by 3.4% during the first quarter. Natixis now owns 1,986 shares of the medical research company’s stock worth $687,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

NYSE:BIO opened at $331.71 on Wednesday. The firm’s fifty day moving average price is $325.80 and its two-hundred day moving average price is $307.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.28 and a quick ratio of 4.63. The company has a market cap of $9.46 billion, a P/E ratio of -32.02 and a beta of 0.95. Bio-Rad Laboratories has a one year low of $261.59 and a one year high of $366.30.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.12 by $0.99. The company 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 quarter in the prior year, the business earned $3.00 earnings per share. Equities analysts expect that Bio-Rad Laboratories will post 10.31 earnings per share for the current 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.