Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $244.25, but opened at $237.63. Bio-Rad Laboratories shares last traded at $245.36, with a volume of 123,668 shares.
Analyst Upgrades and Downgrades
BIO has been the topic of several recent analyst reports. Wall Street Zen downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Citigroup reduced their target price on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. UBS Group reduced their target price on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company dropped 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. Finally, Royal Bank Of Canada dropped 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $324.25.
Check Out Our Latest Report on Bio-Rad Laboratories
Bio-Rad Laboratories Stock Performance
The stock's 50 day moving average is $238.30 and its two-hundred day moving average is $265.94. The company has a current ratio of 5.99, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of -3.17 and a beta of 0.95.
Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted 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 company had revenue of $585.40 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.30 EPS. Analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Bio-Rad Laboratories by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,919,808 shares of the medical research company's stock valued at $630,676,000 after buying an additional 12,168 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Bio-Rad Laboratories by 17.5% during the first quarter. Dimensional Fund Advisors LP now owns 877,040 shares of the medical research company's stock valued at $213,608,000 after acquiring an additional 130,921 shares during the last quarter. Ariel Investments LLC raised its stake in shares of Bio-Rad Laboratories by 29.3% during the first quarter. Ariel Investments LLC now owns 724,660 shares of the medical research company's stock valued at $176,498,000 after acquiring an additional 164,136 shares during the last quarter. Earnest Partners LLC raised its stake in shares of Bio-Rad Laboratories by 2.1% during the fourth quarter. Earnest Partners LLC now owns 618,049 shares of the medical research company's stock valued at $203,035,000 after acquiring an additional 12,500 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Bio-Rad Laboratories by 705.9% during the fourth quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company's stock worth $140,370,000 after buying an additional 374,269 shares during the last quarter. 65.24% of the stock is owned by institutional investors.
About Bio-Rad Laboratories
(
Get Free Report)
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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