Bio-Rad Laboratories (NYSE:BIO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Bio-Rad Laboratories (NYSE:BIO) from a hold rating to a buy rating in a research note published on Saturday.

BIO has been the topic of several other reports. Wells Fargo & Company upped their target price on shares of Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Citigroup upped their price target on Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Royal Bank Of Canada raised their price objective on Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Finally, Weiss Ratings upgraded Bio-Rad Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $358.50.

Bio-Rad Laboratories Stock Performance

NYSE BIO opened at $311.13 on Friday. The company has a current ratio of 5.12, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $298.98 and its two-hundred day moving average is $265.87. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of -12.80 and a beta of 0.97. Bio-Rad Laboratories has a 12-month low of $211.43 and a 12-month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Wednesday, October 29th. The medical research company reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.04). Bio-Rad Laboratories had a negative net margin of 26.43% and a positive return on equity of 4.18%. The business had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $651.30 million. During the same quarter last year, the firm earned $2.01 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Research analysts expect that Bio-Rad Laboratories will post 10.81 EPS for the current year.

Institutional Trading of Bio-Rad Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC purchased a new position in Bio-Rad Laboratories in the 3rd quarter valued at about $337,000. Truist Financial Corp raised its position in shares of Bio-Rad Laboratories by 26.7% in the third quarter. Truist Financial Corp now owns 11,496 shares of the medical research company’s stock valued at $3,223,000 after buying an additional 2,422 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Bio-Rad Laboratories by 4.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,144 shares of the medical research company’s stock valued at $882,000 after buying an additional 121 shares during the period. Sector Gamma AS boosted its position in Bio-Rad Laboratories by 28.0% during the third quarter. Sector Gamma AS now owns 22,827 shares of the medical research company’s stock worth $6,400,000 after acquiring an additional 4,998 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in Bio-Rad Laboratories in the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

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.