Analysts Set Bio-Rad Laboratories, Inc. (NYSE:BIO) Price Target at $327.40

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $327.40.

A number of research firms have recently weighed in on BIO. UBS Group lowered their price target on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Citigroup reduced their target price on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Royal Bank of Canada cut their price objective on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company lowered their price objective on Bio-Rad Laboratories from $320.00 to $270.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Finally, Wall Street Zen raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Saturday.

Bio-Rad Laboratories Price Performance

Shares of BIO stock traded down $10.24 on Monday, reaching $216.69. The company's stock had a trading volume of 294,584 shares, compared to its average volume of 327,145. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of -3.33 and a beta of 1.00. The stock's fifty day simple moving average is $238.95 and its 200-day simple moving average is $288.59. Bio-Rad Laboratories has a 1 year low of $215.38 and a 1 year high of $387.99. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.81. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. The company had revenue of $585.40 million for the quarter, compared to analyst estimates of $573.01 million. During the same quarter in the previous year, the firm earned $2.30 earnings per share. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. Analysts forecast that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock worth $30,000 after buying an additional 87 shares during the period. GeoWealth Management LLC grew its position in shares of Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after acquiring an additional 72 shares during the period. Picton Mahoney Asset Management boosted its holdings in Bio-Rad Laboratories by 55.6% in the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock worth $32,000 after buying an additional 35 shares during the period. Asset Planning Inc bought a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at about $33,000. Finally, Cape Investment Advisory Inc. bought a new position in Bio-Rad Laboratories during the fourth quarter valued at approximately $38,000. 65.24% of the stock is currently owned by institutional investors.

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.