Bio-Rad Laboratories, Inc. (NYSE:BIO) Stock Has Consensus Price Target of $343.33

Key Points

• Analysts have a consensus “Hold” rating on Bio-Rad Laboratories, with four holds and one buy; the average 12-month price target is $343.33, below the stock’s reported $372.85 opening price.
• Bio-Rad exceeded quarterly expectations, reporting EPS of $2.62 versus the $1.75 consensus and revenue of $651 million versus estimates of $623.99 million, although revenue was essentially flat year over year.
• Institutional investors own approximately 65.24% of the company, with several major funds increasing their positions in recent quarters.

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) has been given a consensus recommendation of "Hold" by the five brokerages that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $343.33.

Several equities analysts have commented on the company. Wells Fargo & Company increased their price target on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an "equal weight" rating in a report on Wednesday, August 5th. Citigroup lifted their price target on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a "hold" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Bio-Rad Laboratories from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Zacks Research raised shares of Bio-Rad Laboratories from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada upped their price objective on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th.

Bio-Rad Laboratories Stock Performance

BIO opened at $372.85 on Tuesday. The company has a market cap of $9.97 billion, a PE ratio of 45.19 and a beta of 1.07. The stock has a 50-day moving average of $373.55 and a 200-day moving average of $312.94. Bio-Rad Laboratories has a 52-week low of $236.73 and a 52-week high of $396.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.33 and a current ratio of 3.14.

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

Institutional Trading of Bio-Rad Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Bio-Rad Laboratories by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,089,323 shares of the medical research company's stock worth $303,637,000 after buying an additional 12,251 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Bio-Rad Laboratories by 57.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 233,227 shares of the medical research company's stock valued at $68,478,000 after purchasing an additional 85,393 shares during the last quarter. Hound Partners LLC raised its stake in Bio-Rad Laboratories by 125.9% during the 1st quarter. Hound Partners LLC now owns 97,724 shares of the medical research company's stock valued at $27,241,000 after purchasing an additional 54,456 shares during the last quarter. Hosking Partners LLP raised its stake in Bio-Rad Laboratories by 1.1% during the 3rd quarter. Hosking Partners LLP now owns 95,472 shares of the medical research company's stock valued at $36,061,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Bio-Rad Laboratories by 4.1% in the 1st quarter. Boston Trust Walden Corp now owns 93,495 shares of the medical research company's stock valued at $26,062,000 after purchasing an additional 3,657 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc develops, manufactures and markets products and systems used in life science research and clinical diagnostics. Its life science portfolio includes laboratory instruments, reagents, software and consumables used in areas such as genomics, proteomics, cell biology, biopharmaceutical development and quality control.

The company's clinical diagnostics business provides systems, reagents and software for blood typing, infectious disease testing, diabetes monitoring, quality control and other diagnostic applications.

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