Bio-Rad Laboratories, Inc. (BIO) Receives $260.00 Average Target Price from Brokerages
Bio-Rad Laboratories, Inc. (NYSE:BIO) has received an average recommendation of “Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $260.00.
A number of equities research analysts have commented on BIO shares. Zacks Investment Research downgraded shares of Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $255.00 target price on shares of Bio-Rad Laboratories in a research report on Monday, September 18th. Finally, TheStreet downgraded shares of Bio-Rad Laboratories from a “b” rating to a “c+” rating in a research report on Thursday, August 3rd.
Bio-Rad Laboratories (NYSE:BIO) traded down $0.83 during trading hours on Wednesday, reaching $255.49. 129,090 shares of the company’s stock were exchanged, compared to its average volume of 194,172. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.77 and a current ratio of 4.06. Bio-Rad Laboratories has a fifty-two week low of $169.18 and a fifty-two week high of $268.40. The company has a market cap of $8,890.00, a P/E ratio of 80.39, a PEG ratio of 3.82 and a beta of 0.88.
Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, November 2nd. The medical research company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.37. Bio-Rad Laboratories had a net margin of 1.15% and a return on equity of 3.44%. The business had revenue of $535.00 million during the quarter, compared to the consensus estimate of $507.99 million. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. equities analysts predict that Bio-Rad Laboratories will post 2.65 earnings per share for the current year.
In other news, EVP Giovanni Magni sold 2,400 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $253.01, for a total transaction of $607,224.00. Following the completion of the sale, the executive vice president now owns 9,251 shares of the company’s stock, valued at approximately $2,340,595.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 28.29% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC bought a new stake in shares of Bio-Rad Laboratories during the 2nd quarter valued at $7,584,000. Capital Analysts LLC bought a new stake in shares of Bio-Rad Laboratories during the 2nd quarter valued at $170,000. BNP Paribas Arbitrage SA grew its position in shares of Bio-Rad Laboratories by 63.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,882 shares of the medical research company’s stock valued at $1,784,000 after acquiring an additional 3,047 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Bio-Rad Laboratories by 1.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 115,218 shares of the medical research company’s stock valued at $26,075,000 after acquiring an additional 2,070 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Bio-Rad Laboratories by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 22,419 shares of the medical research company’s stock valued at $5,074,000 after acquiring an additional 3,107 shares during the period. 64.27% of the stock is owned by hedge funds and other 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.
Receive News & Stock Ratings for Bio-Rad Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories Inc. and related stocks with our FREE daily email newsletter.