Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Bio-Rad Laboratories, Inc. (NYSE:BIO) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $468.00.

Several research firms have commented on BIO. UBS Group upped their price objective on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a report on Friday, February 16th. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada decreased their price objective on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Finally, Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $400.00 to $365.00 in a report on Wednesday, April 3rd.

Insider Buying and Selling at Bio-Rad Laboratories

In other news, EVP Michael Crowley sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the completion of the transaction, the executive vice president now owns 6,942 shares of the company’s stock, valued at $2,332,512. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.06% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIO. Sound Income Strategies LLC bought a new stake in Bio-Rad Laboratories during the first quarter worth about $38,000. Gladius Capital Management LP grew its position in Bio-Rad Laboratories by 65.8% during the fourth quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 48 shares during the last quarter. Principal Securities Inc. bought a new position in Bio-Rad Laboratories during the fourth quarter valued at approximately $41,000. GAMMA Investing LLC purchased a new position in shares of Bio-Rad Laboratories during the fourth quarter worth approximately $42,000. Finally, ING Groep NV bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth approximately $44,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

BIO opened at $279.83 on Friday. Bio-Rad Laboratories has a fifty-two week low of $261.59 and a fifty-two week high of $468.45. The firm has a 50-day moving average of $318.52 and a 200 day moving average of $314.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.34 and a current ratio of 5.83. The firm has a market cap of $7.98 billion, a P/E ratio of -13.02 and a beta of 0.94.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.17. The business had revenue of $681.18 million during the quarter, compared to analyst estimates of $685.00 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. Bio-Rad Laboratories’s revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.31 earnings per share. On average, research analysts expect that Bio-Rad Laboratories will post 10.41 EPS for the current year.

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.