Bio-Rad Laboratories (NYSE:BIO) Shares Down 4.1% - Should You Sell?

Key Points

• Bio-Rad Laboratories' shares fell 4.1% to $272.86, experiencing a significant decline in trading volume, down 87% from the average.
• Wall Street analysts have mixed ratings, with one firm upgrading the stock to a "buy" and several others adjusting their price targets between $265.00 and $409.00.
• Bio-Rad reported earnings of $2.61 per share, exceeding estimates, and revenue of $651.60 million, marking a 2.1% increase from last year.

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) traded down 4.1% during trading on Monday . The company traded as low as $272.86 and last traded at $272.86. 43,233 shares were traded during trading, a decline of 87% from the average session volume of 336,106 shares. The stock had previously closed at $284.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday. Citigroup decreased their price objective on 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. UBS Group decreased their price objective on 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. Royal Bank Of Canada raised their price objective 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. Finally, Wells Fargo & Company raised their price objective on Bio-Rad Laboratories from $245.00 to $265.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $333.50.

Bio-Rad Laboratories Trading Down 3.6%

The company has a market capitalization of $7.14 billion, a P/E ratio of 22.37 and a beta of 0.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.67 and a current ratio of 5.12. The company has a 50-day simple moving average of $243.06 and a 200 day simple moving average of $259.43.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical research company reported $2.61 EPS for the quarter, beating the consensus estimate of $1.93 by $0.68. The business had revenue of $651.60 million for the quarter, compared to analyst estimates of $614.82 million. Bio-Rad Laboratories had a return on equity of 4.01% and a net margin of 12.50%. Bio-Rad Laboratories's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.11 EPS. Sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its position in shares of Bio-Rad Laboratories by 3,633.3% during 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 bought a new stake in shares of Bio-Rad Laboratories during the first quarter worth $29,000. GeoWealth Management LLC raised its position in shares of Bio-Rad Laboratories by 342.9% during the fourth 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. Curat Global LLC bought a new stake in shares of Bio-Rad Laboratories during the first quarter worth $34,000. Finally, Allworth Financial LP raised its position in shares of Bio-Rad Laboratories by 260.0% during the first quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

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.