Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Bio-Rad Laboratories, Inc. has received a consensus recommendation of "Hold" from six analysts, with one sell, two hold, and three buy ratings.
• The company reported a Q2 EPS of $2.61, exceeding analysts' estimates of $1.93, and achieved revenue of $651.60 million, surpassing the expected $614.82 million.
• Shares of Bio-Rad Laboratories increased by 2.2%, with a current trading price of $312.68 and a market cap of approximately $8.46 billion.

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) have been assigned an average recommendation of "Hold" from the six analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $333.50.

A number of research analysts have issued reports on BIO shares. Wells Fargo & Company lifted their price objective on Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Royal Bank Of Canada lifted their price target on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Bio-Rad Laboratories in a research note on Tuesday.

Hedge Funds Weigh In On Bio-Rad Laboratories

Several institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings 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 valued at $27,000 after buying an additional 109 shares during the last quarter. Quarry LP bought a new position in shares of Bio-Rad Laboratories in the first quarter worth about $29,000. Farther Finance Advisors LLC raised its stake in shares of Bio-Rad Laboratories by 52.9% in the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company's stock worth $29,000 after acquiring an additional 36 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Bio-Rad Laboratories by 115.2% in the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company's stock worth $34,000 after acquiring an additional 76 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Bio-Rad Laboratories by 260.0% in the first quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Stock Up 2.2%

Shares of BIO opened at $312.68 on Friday. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 26.66 and a beta of 0.97. The company has a quick ratio of 3.67, a current ratio of 5.12 and a debt-to-equity ratio of 0.17. Bio-Rad Laboratories has a 12 month low of $211.43 and a 12 month high of $387.99. The company has a 50-day moving average price of $289.06 and a two-hundred day moving average price of $258.07.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $651.60 million during the quarter, compared to analysts' expectations of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.11 earnings per share. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. Equities analysts predict that Bio-Rad Laboratories will post 10.81 EPS for the current fiscal year.

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.

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