Bio-Rad Laboratories (NYSE:BIO - Get Free Report) had its price target decreased by equities research analysts at Wells Fargo & Company from $260.00 to $245.00 in a report released on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the medical research company's stock. Wells Fargo & Company's price target indicates a potential upside of 7.62% from the stock's previous close.
Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Sunday. Citigroup reduced 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 note on Friday, May 2nd. Royal Bank of Canada cut their target price on 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. Finally, UBS Group dropped their target price on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $324.25.
Read Our Latest Report on Bio-Rad Laboratories
Bio-Rad Laboratories Price Performance
NYSE BIO traded up $8.24 during midday trading on Monday, hitting $227.66. The company had a trading volume of 218,486 shares, compared to its average volume of 324,354. The firm has a 50-day moving average price of $236.54 and a 200-day moving average price of $285.07. The company has a market capitalization of $6.20 billion, a PE ratio of -3.50 and a beta of 0.93. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. 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 data on Thursday, May 1st. The medical research company reported $2.54 earnings per share (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 the consensus estimate of $573.01 million. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. The firm's revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.30 EPS. As a group, analysts anticipate that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Bio-Rad Laboratories
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC lifted its holdings in Bio-Rad Laboratories by 62.4% during the 1st quarter. Inspire Investing LLC now owns 1,281 shares of the medical research company's stock valued at $312,000 after purchasing an additional 492 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Bio-Rad Laboratories by 79.6% in the 1st quarter. Acadian Asset Management LLC now owns 73,431 shares of the medical research company's stock valued at $17,878,000 after acquiring an additional 32,534 shares in the last quarter. Jane Street Group LLC boosted its position in Bio-Rad Laboratories by 95.3% during the first quarter. Jane Street Group LLC now owns 37,383 shares of the medical research company's stock valued at $9,105,000 after purchasing an additional 18,239 shares during the last quarter. Empowered Funds LLC increased its position in Bio-Rad Laboratories by 14.8% during the first quarter. Empowered Funds LLC now owns 1,547 shares of the medical research company's stock worth $377,000 after buying an additional 199 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in Bio-Rad Laboratories during the first quarter worth approximately $292,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.
About Bio-Rad Laboratories
(
Get Free Report)
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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