Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $391.80 Average PT from Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $391.80.

A number of research analysts have weighed in on BIO shares. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price objective on the stock. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their price objective on Bio-Rad Laboratories from $446.00 to $469.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Citigroup raised their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, October 31st.

Insider Activity

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total value of $205,895.27. Following the transaction, the executive vice president now owns 147 shares of the company’s stock, valued at approximately $48,582.03. The trade was a 80.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew J. Last sold 3,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $329.94, for a total value of $989,820.00. Following the sale, the chief operating officer now directly owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. This represents a 28.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Bio-Rad Laboratories

Several hedge funds have recently added to or reduced their stakes in BIO. US Bancorp DE increased its stake in shares of Bio-Rad Laboratories by 13.8% during the 1st quarter. US Bancorp DE now owns 9,960 shares of the medical research company’s stock worth $3,445,000 after purchasing an additional 1,209 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Bio-Rad Laboratories by 15.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 941 shares of the medical research company’s stock worth $325,000 after buying an additional 124 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Bio-Rad Laboratories by 4.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 26,050 shares of the medical research company’s stock valued at $9,010,000 after buying an additional 1,076 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Bio-Rad Laboratories by 10.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,850 shares of the medical research company’s stock valued at $7,903,000 after buying an additional 2,113 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of Bio-Rad Laboratories by 310.0% during the 1st quarter. First Eagle Investment Management LLC now owns 1,964 shares of the medical research company’s stock worth $679,000 after acquiring an additional 1,485 shares during the period. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Down 2.2 %

BIO stock opened at $313.15 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. Bio-Rad Laboratories has a fifty-two week low of $262.12 and a fifty-two week high of $387.99. The stock’s 50 day simple moving average is $340.28 and its 200 day simple moving average is $314.91. The company has a market cap of $8.77 billion, a P/E ratio of -11.46 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The company had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. During the same period in the prior year, the firm earned $2.33 earnings per share. Bio-Rad Laboratories’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts expect that Bio-Rad Laboratories will post 9.93 earnings per share for the current fiscal year.

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.