Bio-Rad Laboratories (NYSE:BIO) Downgraded to "Hold" Rating by 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.

Other equities analysts have also issued reports about the company. Wells Fargo & Company lowered their price target on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Monday, June 9th. Royal Bank Of Canada cut their target price on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. 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 report on Friday, May 2nd. Finally, Citigroup decreased their target price 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $324.25.

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $257.34 on Friday. The company has a market capitalization of $7.00 billion, a PE ratio of -3.38 and a beta of 0.95. The company's fifty day moving average price is $237.15 and its 200 day moving average price is $269.16. Bio-Rad Laboratories has a one year low of $211.43 and a one year high of $387.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.99 and a quick ratio of 4.43.

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

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of hedge funds have recently added to or reduced their stakes in BIO. Quarry LP acquired a new position in Bio-Rad Laboratories during the 1st quarter worth $29,000. GeoWealth Management LLC raised its holdings in 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 purchasing an additional 72 shares during the last quarter. Picton Mahoney Asset Management lifted its position in 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 valued at $32,000 after purchasing an additional 35 shares during the period. Curat Global LLC acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $34,000. Finally, Allworth Financial LP raised its stake in shares of Bio-Rad Laboratories by 260.0% during the first quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after buying an additional 104 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

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.

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