UBS Group Lowers Bio-Rad Laboratories (NYSE:BIO) Price Target to $385.00

Bio-Rad Laboratories (NYSE:BIO) had its price objective lowered by research analysts at UBS Group from $420.00 to $385.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. UBS Group’s price target would indicate a potential upside of 36.98% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Royal Bank of Canada cut their price objective on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Finally, Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $461.00.

Bio-Rad Laboratories Price Performance

BIO stock traded up $3.76 during trading on Wednesday, reaching $281.07. The company’s stock had a trading volume of 30,905 shares, compared to its average volume of 204,616. Bio-Rad Laboratories has a 1 year low of $261.59 and a 1 year high of $431.79. The company has a quick ratio of 4.34, a current ratio of 5.83 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $8.02 billion, a P/E ratio of -12.90 and a beta of 0.94. The company’s fifty day moving average is $314.19 and its 200-day moving average is $313.69.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Tuesday, May 7th. The medical research company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.25. The firm had revenue of $610.82 million during the quarter, compared to analyst estimates of $619.09 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.34 earnings per share. On average, research analysts expect that Bio-Rad Laboratories will post 10.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total value of $1,008,000.00. Following the completion of the sale, 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 SEC, which can be accessed through the SEC website. 17.50% of the stock is owned by insiders.

Institutional Trading of Bio-Rad Laboratories

Institutional investors and hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC purchased a new position in Bio-Rad Laboratories during the first quarter valued at approximately $38,000. Gladius Capital Management LP increased its holdings 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 buying an additional 48 shares during the period. Principal Securities Inc. purchased a new position in Bio-Rad Laboratories during the fourth quarter valued at approximately $41,000. GAMMA Investing LLC purchased a new position in Bio-Rad Laboratories in the fourth quarter worth $42,000. Finally, ING Groep NV purchased a new position in Bio-Rad Laboratories in the third quarter worth $44,000. Institutional investors 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.