Bio-Rad Laboratories (NYSE:BIO) Cut to Hold at Wall Street Zen

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

A number of other equities analysts have also recently weighed in on BIO. UBS Group lowered their price target on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company decreased their price objective on shares of Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Monday, June 9th. Citigroup decreased their price objective on shares of 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. Finally, Royal Bank Of Canada decreased their price objective on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Bio-Rad Laboratories has an average rating of "Moderate Buy" and an average target price of $324.25.

Bio-Rad Laboratories Stock Performance

BIO traded down $0.09 during trading on Friday, hitting $247.26. The stock had a trading volume of 193,920 shares, compared to its average volume of 334,024. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.43 and a current ratio of 5.99. The firm has a market capitalization of $6.73 billion, a P/E ratio of -3.24 and a beta of 0.95. The company's 50-day moving average price is $237.68 and its 200 day moving average price is $268.02. Bio-Rad Laboratories has a twelve month low of $211.43 and a twelve month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.81. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. The business had revenue of $585.40 million for the quarter, compared to analysts' expectations of $573.01 million. During the same period in the prior year, the company posted $2.30 EPS. The business's revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that Bio-Rad Laboratories will post 10.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIO. Quarry LP purchased a new position in Bio-Rad Laboratories in the 1st quarter valued at about $29,000. GeoWealth Management LLC lifted its holdings 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 worth $31,000 after acquiring an additional 72 shares during the period. Picton Mahoney Asset Management lifted its holdings in shares of Bio-Rad Laboratories by 55.6% during the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock worth $32,000 after acquiring an additional 35 shares during the period. Curat Global LLC purchased a new position in shares of Bio-Rad Laboratories during the 1st quarter worth about $34,000. Finally, Allworth Financial LP lifted its holdings in shares of Bio-Rad Laboratories by 260.0% during the 1st 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 period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

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.