Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $333.50 Average Price Target from Brokerages

Key Points

• Bio-Rad Laboratories has received a consensus recommendation of "Moderate Buy" from five research firms, with an average 1-year price target of $333.50.
• In their recent reports, Wells Fargo raised the target price from $245 to $265, while Royal Bank of Canada increased it from $387 to $409.
• The company's latest quarterly earnings report showed earnings per share of $2.61, significantly beating the expected $1.93, with a revenue of $651.60 million.

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the five analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $333.50.

A number of research analysts have issued reports on BIO shares. Wall Street Zen cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Wells Fargo & Company increased their price target on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Zacks Research upgraded shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada boosted their target price on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st.

Bio-Rad Laboratories Stock Down 0.2%

Shares of BIO traded down $0.44 during mid-day trading on Monday, hitting $283.63. 195,058 shares of the company's stock were exchanged, compared to its average volume of 211,000. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 5.12. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 24.18 and a beta of 0.95. The stock's 50-day moving average is $275.86 and its 200-day moving average is $252.83. Bio-Rad Laboratories has a fifty-two week low of $211.43 and a fifty-two week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.68. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The firm had revenue of $651.60 million during the quarter, compared to analysts' expectations of $614.82 million. During the same quarter last year, the business posted $3.11 EPS. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bio-Rad Laboratories

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of Bio-Rad Laboratories by 3,633.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 112 shares of the medical research company's stock worth $27,000 after acquiring an additional 109 shares during the period. Quarry LP bought a new position in Bio-Rad Laboratories in the first quarter worth approximately $29,000. Curat Global LLC purchased a new position in Bio-Rad Laboratories in the 1st quarter worth $34,000. Geneos Wealth Management Inc. boosted its holdings in Bio-Rad Laboratories by 115.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company's stock worth $34,000 after buying an additional 76 shares during the last quarter. Finally, Allworth Financial LP raised its position in Bio-Rad Laboratories by 260.0% in the first quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock valued at $36,000 after purchasing an additional 104 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

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.