Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $493.75 Average Target Price from Analysts

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the five analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $468.00.

Several equities research analysts recently weighed in on BIO shares. StockNews.com upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, March 15th. Citigroup downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $400.00 to $365.00 in a report on Wednesday. Royal Bank of Canada lowered their price target on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an "outperform" rating for the company in a report on Friday, February 16th. Finally, UBS Group lifted their price target on Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, February 16th.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock traded down $0.53 during trading on Wednesday, reaching $328.19. 200,259 shares of the stock traded hands, compared to its average volume of 202,256. Bio-Rad Laboratories has a 52-week low of $261.59 and a 52-week high of $494.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.83 and a quick ratio of 4.34. The business has a fifty day simple moving average of $333.80 and a two-hundred day simple moving average of $324.03. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of -15.27 and a beta of 0.87.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.17. The business had revenue of $681.18 million during the quarter, compared to analysts' expectations of $685.00 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The firm's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.31 EPS. Sell-side analysts expect that Bio-Rad Laboratories will post 10.57 EPS for the current year.

Insider Transactions at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 3,000 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the transaction, the executive vice president now directly owns 6,942 shares in the company, valued at approximately $2,332,512. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.06% of the company's stock.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of large investors have recently bought and sold shares of BIO. Quarry LP bought a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth $27,000. Farther Finance Advisors LLC increased its stake in Bio-Rad Laboratories by 42.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 101 shares of the medical research company's stock worth $38,000 after buying an additional 30 shares during the period. Gladius Capital Management LP lifted its holdings in Bio-Rad Laboratories by 65.8% during the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company's stock valued at $39,000 after buying an additional 48 shares in the last quarter. Principal Securities Inc. bought a new stake in Bio-Rad Laboratories during the 4th quarter valued at about $41,000. Finally, GAMMA Investing LLC purchased a new stake in Bio-Rad Laboratories in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors 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.