Bio-Rad Laboratories (NYSE:BIO) Stock Rating Upgraded by Zacks Research

Key Points

• Bio-Rad Laboratories has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting an improvement in analyst sentiment towards the stock.
• Analyst price targets for Bio-Rad vary, with UBS lowering its target to $310 while Royal Bank of Canada increased its target to $409, indicating differing opinions on the stock's future performance.
• The company's latest quarterly earnings report showed a significant EPS of $2.61, exceeding estimates and reflecting a year-over-year revenue increase of 2.1%.

Zacks Research upgraded shares of Bio-Rad Laboratories (NYSE:BIO - Free Report) from a strong sell rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently commented on BIO. UBS Group cut their target price on 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. Citigroup cut their target price on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Royal Bank Of Canada lifted their target price on Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Wells Fargo & Company raised their price target on Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Wall Street Zen lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $333.50.

Bio-Rad Laboratories Stock Up 1.6%

Bio-Rad Laboratories stock traded up $4.72 during midday trading on Tuesday, reaching $298.39. The company's stock had a trading volume of 199,920 shares, compared to its average volume of 249,221. Bio-Rad Laboratories has a fifty-two week low of $211.43 and a fifty-two week high of $387.99. The company has a quick ratio of 3.67, a current ratio of 5.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $8.07 billion, a P/E ratio of 25.44 and a beta of 0.95. The business has a 50-day simple moving average of $263.60 and a 200-day simple moving average of $251.14.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.68. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%.The company had revenue of $651.60 million for the quarter, compared to analysts' expectations of $614.82 million. During the same period last year, the firm earned $3.11 earnings per share. Bio-Rad Laboratories's quarterly revenue was up 2.1% on a year-over-year basis. Bio-Rad Laboratories has set its FY 2025 guidance at EPS. On average, research analysts expect that Bio-Rad Laboratories will post 10.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in shares of Bio-Rad Laboratories by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 44,343 shares of the medical research company's stock valued at $10,800,000 after buying an additional 236 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Bio-Rad Laboratories by 14.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 966 shares of the medical research company's stock valued at $235,000 after buying an additional 123 shares during the period. New York State Teachers Retirement System grew its stake in shares of Bio-Rad Laboratories by 1.2% during the 1st quarter. New York State Teachers Retirement System now owns 17,500 shares of the medical research company's stock valued at $4,262,000 after buying an additional 200 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of Bio-Rad Laboratories by 4.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 7,182 shares of the medical research company's stock valued at $1,749,000 after buying an additional 315 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of Bio-Rad Laboratories by 12.5% during the 1st quarter. Cetera Investment Advisers now owns 1,932 shares of the medical research company's stock valued at $471,000 after buying an additional 215 shares during the period. 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.