Bio-Rad Laboratories, Inc. (BIO) Raised to B- at TheStreet
Several other analysts have also recently commented on the company. Deutsche Bank AG reiterated a buy rating and set a $255.00 price target on shares of Bio-Rad Laboratories in a research report on Monday, September 18th. Zacks Investment Research upgraded Bio-Rad Laboratories from a sell rating to a hold rating in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Bio-Rad Laboratories has an average rating of Buy and a consensus price target of $260.00.
Shares of Bio-Rad Laboratories (NYSE BIO) opened at $254.14 on Monday. The company has a market capitalization of $7,540.54, a P/E ratio of 80.77, a PEG ratio of 3.84 and a beta of 0.88. Bio-Rad Laboratories has a 12-month low of $169.19 and a 12-month high of $268.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.06 and a quick ratio of 2.77.
Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.37. The business had revenue of $535.00 million during the quarter, compared to analysts’ expectations of $507.99 million. Bio-Rad Laboratories had a return on equity of 3.44% and a net margin of 1.15%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. sell-side analysts anticipate that Bio-Rad Laboratories will post 2.65 EPS for the current fiscal year.
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In other Bio-Rad Laboratories news, EVP Giovanni Magni sold 2,400 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $253.01, for a total transaction of $607,224.00. Following the transaction, the executive vice president now owns 9,251 shares of the company’s stock, valued at $2,340,595.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.29% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new position in Bio-Rad Laboratories during the second quarter worth $113,000. Pacad Investment Ltd. acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter valued at $113,000. First Manhattan Co. lifted its stake in shares of Bio-Rad Laboratories by 71.6% in the 3rd quarter. First Manhattan Co. now owns 599 shares of the medical research company’s stock valued at $133,000 after purchasing an additional 250 shares during the last quarter. Turner Investments LLC acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter valued at $136,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Bio-Rad Laboratories by 3,333.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 618 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 600 shares during the last quarter. 64.27% of the stock is currently owned by institutional investors.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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