Bio-Rad Laboratories (NYSE:BIO) Raised to "Buy" at Wall Street Zen

Key Points

• Bio-Rad Laboratories has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating positive market sentiment towards the stock.
• Recent analyst reports show varying price targets with UBS reducing their target from $355 to $310, while RBC increased theirs from $387 to $409, reflecting mixed expectations for the company's performance.
• Bio-Rad's stock has increased by 17.6% recently, and it reported earnings of $2.61 per share, surpassing analysts' expectations of $1.93 during the last quarter.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

BIO has been the subject of a number of other reports. UBS Group cut their price objective on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Citigroup dropped their target price on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Royal Bank Of Canada boosted their price target on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $333.50.

Bio-Rad Laboratories Stock Up 17.6%

Shares of BIO opened at $284.58 on Friday. The company has a quick ratio of 4.43, a current ratio of 5.99 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $241.19 and a two-hundred day moving average price of $260.97. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 24.26 and a beta of 0.95. Bio-Rad Laboratories has a 12 month low of $211.43 and a 12 month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.68. The business had revenue of $651.60 million during the quarter, compared to analysts' expectations of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.04% and a net margin of 12.50%. Bio-Rad Laboratories's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.11 EPS. Equities analysts predict that Bio-Rad Laboratories will post 10.81 EPS for the current fiscal year.

Institutional Trading of Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in BIO. GeoWealth Management LLC grew 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 acquiring an additional 72 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake 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 worth $27,000 after acquiring an additional 109 shares during the last quarter. Quarry LP acquired a new position in shares of Bio-Rad Laboratories during the first quarter worth approximately $29,000. Curat Global LLC bought a new stake in shares of Bio-Rad Laboratories during the first quarter valued at approximately $34,000. Finally, Allworth Financial LP increased its holdings 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 valued at $36,000 after purchasing an additional 104 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

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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