Bio-Rad Laboratories (NYSE:BIO) Downgraded by StockNews.com to "Hold"

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

A number of other research firms have also weighed in on BIO. Royal Bank of Canada lowered their price objective on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an "outperform" rating for the company in a research note on Friday, February 16th. UBS Group boosted their price target on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a "buy" rating in a report on Friday, February 16th. Finally, Citigroup downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $400.00 to $365.00 in a research note on Wednesday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $468.00.

Bio-Rad Laboratories Trading Up 0.5 %

Shares of NYSE:BIO traded up $1.56 during trading on Friday, reaching $324.39. 159,031 shares of the company were exchanged, compared to its average volume of 200,508. The business's fifty day simple moving average is $333.84 and its 200-day simple moving average is $323.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.83 and a quick ratio of 4.34. Bio-Rad Laboratories has a 12-month low of $261.59 and a 12-month high of $494.05. The firm has a market capitalization of $9.25 billion, a PE ratio of -15.09 and a beta of 0.87.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 EPS for the quarter, topping the consensus estimate of $2.93 by $0.17. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The company had revenue of $681.18 million for the quarter, compared to the consensus estimate of $685.00 million. During the same period last year, the business posted $3.31 EPS. Bio-Rad Laboratories's quarterly revenue was down 6.7% on a year-over-year basis. On average, research analysts anticipate that Bio-Rad Laboratories will post 10.41 EPS for the current year.

Insider Buying and Selling

In other news, EVP Michael Crowley sold 3,000 shares of the company's stock in a transaction on Tuesday, February 27th. The stock was 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 of the company's stock, valued at $2,332,512. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 17.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of large investors have recently modified their holdings of BIO. Comerica Bank purchased a new stake in Bio-Rad Laboratories during the 3rd quarter worth approximately $11,054,000. IFM Investors Pty Ltd grew its holdings in shares of Bio-Rad Laboratories by 5.2% during the third quarter. IFM Investors Pty Ltd now owns 4,057 shares of the medical research company's stock valued at $1,454,000 after buying an additional 200 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of Bio-Rad Laboratories by 6.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 312,583 shares of the medical research company's stock valued at $112,046,000 after acquiring an additional 18,419 shares during the period. Caxton Associates LP purchased a new position in Bio-Rad Laboratories in the 3rd quarter worth $668,000. Finally, Invesco Ltd. raised its stake in Bio-Rad Laboratories by 8.0% in the 3rd quarter. Invesco Ltd. now owns 343,462 shares of the medical research company's stock worth $123,114,000 after acquiring an additional 25,562 shares during the last quarter. 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.

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