Bio-Rad Laboratories (NYSE:BIO) Given New $265.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised its price target for Bio-Rad Laboratories from $245.00 to $265.00, maintaining an "equal weight" rating despite a potential downside from the stock's previous close.
• Analysts' evaluations vary significantly, with estimates ranging from price targets of $310.00 by UBS to $392.00 by Royal Bank Of Canada, reflecting a mix of buy and hold ratings.
• Bio-Rad's recent quarterly earnings exceeded expectations, reporting $2.61 EPS against a consensus of $1.93, with a revenue of $651.60 million, indicating a 2.1% year-over-year increase.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) had its price target hoisted by analysts at Wells Fargo & Company from $245.00 to $265.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the medical research company's stock. Wells Fargo & Company's price target points to a potential downside of 2.53% from the stock's previous close.

A number of other brokerages also recently weighed in on BIO. Citigroup cut their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. UBS Group decreased their target price on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Royal Bank Of Canada decreased 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 note on Friday, May 2nd. Finally, Wall Street Zen downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $333.50.

Bio-Rad Laboratories Price Performance

NYSE:BIO traded down $4.92 during mid-day trading on Friday, reaching $271.88. 244,106 shares of the company were exchanged, compared to its average volume of 338,723. The company has a quick ratio of 3.67, a current ratio of 5.12 and a debt-to-equity ratio of 0.17. Bio-Rad Laboratories has a 12 month low of $211.43 and a 12 month high of $387.99. The stock has a market cap of $7.40 billion, a PE ratio of 23.18 and a beta of 0.90. The company has a fifty day moving average of $242.22 and a 200 day moving average of $259.34.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Thursday, July 31st. The medical research company reported $2.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.93 by $0.68. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. The company had revenue of $651.60 million for the quarter, compared to the consensus estimate of $614.82 million. During the same period in the prior year, the company posted $3.11 EPS. The company's revenue was up 2.1% compared to the same quarter last year. On average, research analysts anticipate that Bio-Rad Laboratories will post 10.81 EPS for the current fiscal year.

Institutional Trading of Bio-Rad Laboratories

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its position in shares of Bio-Rad Laboratories by 3,633.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 112 shares of the medical research company's stock worth $27,000 after purchasing an additional 109 shares during the period. Quarry LP bought a new position in Bio-Rad Laboratories in the 1st quarter valued at $29,000. GeoWealth Management LLC grew its stake in shares of Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock worth $31,000 after acquiring an additional 72 shares during the period. Curat Global LLC bought a new position in shares of Bio-Rad Laboratories during the 1st quarter worth $34,000. Finally, Allworth Financial LP grew its stake in shares of Bio-Rad Laboratories by 260.0% during the 1st quarter. Allworth Financial LP now owns 144 shares of the medical research company's stock worth $36,000 after acquiring an additional 104 shares during the period. 65.24% of the stock is currently owned by institutional investors.

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.