Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $394.20 Consensus Price Target from Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have received an average recommendation of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat reports. Two investment 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 brokerages that have issued ratings on the stock in the last year is $394.20.

A number of analysts have recently issued reports on the company. Citigroup increased their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada increased their price objective on Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in Bio-Rad Laboratories by 97.8% in the third quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock worth $436,861,000 after buying an additional 644,530 shares during the last quarter. Select Equity Group L.P. raised its holdings in shares of Bio-Rad Laboratories by 26.2% during the 2nd quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock valued at $177,391,000 after purchasing an additional 134,856 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Bio-Rad Laboratories by 32,296.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock valued at $173,773,000 after purchasing an additional 634,311 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Bio-Rad Laboratories by 17.8% in the 2nd quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock valued at $165,720,000 after purchasing an additional 91,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Bio-Rad Laboratories by 64.4% in the second quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock worth $135,081,000 after purchasing an additional 193,700 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Trading Up 1.4 %

NYSE:BIO opened at $330.75 on Friday. The stock has a fifty day simple moving average of $339.15 and a 200 day simple moving average of $325.88. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of -12.10 and a beta of 0.90. Bio-Rad Laboratories has a 1-year low of $262.12 and a 1-year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last released 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. The business had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $2.33 earnings per share. Sell-side analysts forecast that Bio-Rad Laboratories will post 10.29 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.