Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Average Recommendation of "Hold" from Brokerages

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) has earned an average rating of "Hold" from the five research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $343.3333.

BIO has been the topic of several research reports. Wells Fargo & Company raised their target price on Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 5th. Citigroup raised their price objective on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Bio-Rad Laboratories from a "sell (d)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Finally, Royal Bank Of Canada boosted their price objective on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BIO. Royal Bank of Canada raised its stake in Bio-Rad Laboratories by 25.2% during the 1st quarter. Royal Bank of Canada now owns 30,310 shares of the medical research company's stock worth $7,382,000 after acquiring an additional 6,100 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Bio-Rad Laboratories by 45.6% in the first quarter. Goldman Sachs Group Inc. now owns 105,006 shares of the medical research company's stock worth $25,575,000 after purchasing an additional 32,874 shares during the period. Empowered Funds LLC increased its stake in shares of Bio-Rad Laboratories by 14.8% in the first quarter. Empowered Funds LLC now owns 1,547 shares of the medical research company's stock worth $377,000 after purchasing an additional 199 shares in the last quarter. Jane Street Group LLC raised its position in shares of Bio-Rad Laboratories by 95.3% during the 1st quarter. Jane Street Group LLC now owns 37,383 shares of the medical research company's stock valued at $9,105,000 after purchasing an additional 18,239 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Bio-Rad Laboratories by 13.5% during the 2nd quarter. Cetera Investment Advisers now owns 2,192 shares of the medical research company's stock valued at $529,000 after buying an additional 260 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

Shares of BIO opened at $386.26 on Monday. The firm has a fifty day simple moving average of $336.27 and a two-hundred day simple moving average of $299.63. The firm has a market cap of $10.33 billion, a PE ratio of 46.82 and a beta of 1.07. The company has a current ratio of 3.14, a quick ratio of 2.33 and a debt-to-equity ratio of 0.11. Bio-Rad Laboratories has a 1-year low of $236.73 and a 1-year high of $396.23.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.87. The firm had revenue of $651.00 million for the quarter, compared to the consensus estimate of $623.99 million. Bio-Rad Laboratories had a return on equity of 3.54% and a net margin of 8.59%.The company's revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the business posted $2.61 EPS. On average, equities analysts anticipate that Bio-Rad Laboratories will post 9.28 EPS for the current year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.

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