Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $394.20 Average Target Price from Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have earned a consensus rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $394.20.

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their price objective on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Citigroup upped their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $344.52 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. The company’s fifty day moving average price is $339.69 and its two-hundred day moving average price is $326.93. The firm has a market capitalization of $9.65 billion, a P/E ratio of -12.61 and a beta of 0.90. Bio-Rad Laboratories has a 12 month low of $262.12 and a 12 month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, topping the consensus estimate 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 business had revenue of $649.70 million for the quarter, compared to analysts’ expectations of $628.18 million. During the same quarter in the previous year, the firm posted $2.33 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts anticipate that Bio-Rad Laboratories will post 10.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC lifted its holdings in Bio-Rad Laboratories by 32,296.9% in the second quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after acquiring an additional 634,311 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Bio-Rad Laboratories by 95.6% in the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock worth $14,836,000 after purchasing an additional 21,669 shares during the last quarter. Mawer Investment Management Ltd. boosted its position in Bio-Rad Laboratories by 63.0% during the 3rd quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock valued at $72,900,000 after purchasing an additional 84,237 shares during the period. Verition Fund Management LLC grew its stake in Bio-Rad Laboratories by 193.3% during the 3rd quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock worth $1,161,000 after buying an additional 2,287 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Bio-Rad Laboratories by 341.7% in the third quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the medical research company’s stock worth $1,773,000 after buying an additional 4,100 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

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.