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

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 released on Saturday morning.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company reduced their target price on shares of Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating for the company in a research report on Monday, June 9th. Royal Bank Of Canada reduced their target price on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Citigroup reduced 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. Finally, UBS Group reduced their target price on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $324.25.

Bio-Rad Laboratories Stock Performance

BIO stock traded down $4.11 during midday trading on Friday, reaching $247.45. 261,538 shares of the company were exchanged, compared to its average volume of 382,121. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.99 and a quick ratio of 4.43. The business has a 50-day moving average price of $235.99 and a two-hundred day moving average price of $270.81. Bio-Rad Laboratories has a one year low of $211.43 and a one year high of $387.99. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of -3.25 and a beta of 0.95.

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 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.81. The firm had revenue of $585.40 million during the quarter, compared to analysts' expectations of $573.01 million. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.30 earnings per share. Equities research analysts forecast that Bio-Rad Laboratories will post 10.81 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BIO. Quarry LP acquired a new position in Bio-Rad Laboratories in the first quarter valued at about $29,000. GeoWealth Management LLC raised its stake in Bio-Rad Laboratories by 342.9% in the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after purchasing an additional 72 shares in the last quarter. Picton Mahoney Asset Management raised its stake in 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 in the last quarter. Curat Global LLC acquired a new position in Bio-Rad Laboratories in the first quarter valued at about $34,000. Finally, Allworth Financial LP raised its stake in 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. Institutional investors and hedge funds own 65.24% of the company's stock.

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.