Brokerages Set Bio-Rad Laboratories, Inc. (NYSE:BIO) Price Target at $391.80

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have been assigned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $394.20.

Several analysts have recently issued reports on BIO shares. Royal Bank of Canada lifted their target price on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company assumed coverage on 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, Citigroup lifted their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $335.69 on Monday. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of -12.28 and a beta of 0.90. The stock has a 50-day moving average of $341.35 and a 200 day moving average of $320.79. 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 twelve month low of $262.12 and a twelve month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The business had revenue of $649.70 million during the quarter, compared to the consensus estimate of $628.18 million. During the same period in the prior year, the company posted $2.33 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that Bio-Rad Laboratories will post 10.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIO. Cetera Advisors LLC purchased a new stake in shares of Bio-Rad Laboratories in the 1st quarter valued at approximately $404,000. CWM LLC grew its position in Bio-Rad Laboratories by 15.7% in the second quarter. CWM LLC now owns 759 shares of the medical research company’s stock worth $207,000 after acquiring an additional 103 shares during the period. Czech National Bank increased its stake in Bio-Rad Laboratories by 5.6% during the second quarter. Czech National Bank now owns 3,888 shares of the medical research company’s stock worth $1,062,000 after acquiring an additional 206 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Bio-Rad Laboratories by 9.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 947 shares of the medical research company’s stock valued at $259,000 after purchasing an additional 82 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of 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 valued at $14,839,000 after purchasing an additional 14,457 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

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.