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

Wall Street Zen upgraded shares of Bio-Rad Laboratories (NYSE:BIO - Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning.

A number of other research analysts have also weighed in on BIO. Citigroup cut their price target 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 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. UBS Group cut 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 report on Friday, May 2nd. Finally, Wells Fargo & Company cut 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $324.25.

Bio-Rad Laboratories Trading Up 1.6%

Shares of NYSE BIO traded up $3.84 during mid-day trading on Friday, hitting $250.90. The company's stock had a trading volume of 280,141 shares, compared to its average volume of 372,502. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -3.29 and a beta of 0.95. 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 has a one year low of $211.43 and a one year high of $387.99. The company's fifty day simple moving average is $236.15 and its 200-day simple moving average is $270.68.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $573.01 million. During the same quarter last year, the firm earned $2.30 EPS. Bio-Rad Laboratories's quarterly revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in shares of Bio-Rad Laboratories by 13.2% in the fourth quarter. Signaturefd LLC now owns 265 shares of the medical research company's stock valued at $87,000 after purchasing an additional 31 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Bio-Rad Laboratories by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company's stock valued at $1,488,000 after purchasing an additional 32 shares during the last quarter. Picton Mahoney Asset Management increased its holdings in shares of Bio-Rad Laboratories by 55.6% in the fourth 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 last quarter. Lecap Asset Management Ltd. increased its holdings in shares of Bio-Rad Laboratories by 3.1% in the first quarter. Lecap Asset Management Ltd. now owns 1,600 shares of the medical research company's stock valued at $390,000 after purchasing an additional 48 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Bio-Rad Laboratories by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 2,254 shares of the medical research company's stock valued at $548,000 after purchasing an additional 55 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

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.