Wells Fargo & Company Lowers Bio-Rad Laboratories (NYSE:BIO) Price Target to $245.00

Bio-Rad Laboratories (NYSE:BIO - Free Report) had its price objective decreased by Wells Fargo & Company from $260.00 to $245.00 in a report published on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical research company's stock.

A number of other equities analysts have also recently issued reports on the stock. Citigroup reduced 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 note on Friday, May 2nd. UBS Group reduced their price objective 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. Wall Street Zen cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Royal Bank of Canada reduced 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 note 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $324.25.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock traded up $2.24 during midday trading on Monday, reaching $232.43. The company had a trading volume of 380,898 shares, compared to its average volume of 329,185. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of -3.57 and a beta of 0.93. The stock has a fifty day simple moving average of $236.23 and a 200 day simple moving average of $282.86. Bio-Rad Laboratories has a 1-year low of $211.43 and a 1-year high of $387.99.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $0.81. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. The business had revenue of $585.40 million during the quarter, compared to analyst estimates of $573.01 million. During the same quarter last year, the business posted $2.30 earnings per share. Bio-Rad Laboratories's revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Bio-Rad Laboratories will post 10.81 earnings per share for the current year.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Metis Global Partners LLC boosted its position in shares of Bio-Rad Laboratories by 4.4% during the fourth quarter. Metis Global Partners LLC now owns 712 shares of the medical research company's stock worth $234,000 after purchasing an additional 30 shares in the last quarter. Signaturefd LLC boosted its position in shares of Bio-Rad Laboratories by 13.2% during the fourth quarter. Signaturefd LLC now owns 265 shares of the medical research company's stock worth $87,000 after purchasing an additional 31 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Bio-Rad Laboratories by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company's stock worth $1,488,000 after purchasing an additional 32 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Bio-Rad Laboratories by 5.0% during the fourth quarter. CIBC Asset Management Inc now owns 713 shares of the medical research company's stock worth $234,000 after purchasing an additional 34 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its position in shares of Bio-Rad Laboratories by 55.6% during the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock worth $32,000 after purchasing an additional 35 shares in the last quarter. 65.24% of the stock is 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.