Bio-Rad Laboratories (NYSE:BIO) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Bio-Rad Laboratories (NYSE:BIO) from a buy rating to a hold rating in a research report sent to investors on Sunday.

Several other analysts also recently weighed in on BIO. Citigroup dropped their target price 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 dropped their target price on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Royal Bank of Canada decreased their price objective 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, Wells Fargo & Company decreased their price objective on shares of Bio-Rad Laboratories from $320.00 to $270.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $324.25.

Bio-Rad Laboratories Stock Up 2.1%

NYSE:BIO opened at $230.36 on Friday. The company has a market cap of $6.27 billion, a PE ratio of -3.54 and a beta of 0.93. Bio-Rad Laboratories has a twelve month low of $211.43 and a twelve month high of $387.99. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $236.07 and its two-hundred day moving average is $283.95.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.81. The company had revenue of $585.40 million for the quarter, compared to the consensus estimate of $573.01 million. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. Bio-Rad Laboratories’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.30 EPS. Analysts anticipate that Bio-Rad Laboratories will post 10.81 EPS for the current year.

Institutional Trading of Bio-Rad Laboratories

Several institutional investors and hedge funds have recently bought and sold shares of the business. Metis Global Partners LLC lifted its stake in Bio-Rad Laboratories by 4.4% during the 4th quarter. Metis Global Partners LLC now owns 712 shares of the medical research company’s stock valued at $234,000 after acquiring an additional 30 shares during the period. Signaturefd LLC lifted its stake in Bio-Rad Laboratories by 13.2% during the 4th quarter. Signaturefd LLC now owns 265 shares of the medical research company’s stock valued at $87,000 after acquiring an additional 31 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Bio-Rad Laboratories by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company’s stock valued at $1,488,000 after purchasing an additional 32 shares during the period. CIBC Asset Management Inc boosted its holdings in Bio-Rad Laboratories by 5.0% during the fourth quarter. CIBC Asset Management Inc now owns 713 shares of the medical research company’s stock worth $234,000 after buying an additional 34 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its holdings in Bio-Rad Laboratories by 55.6% during the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock worth $32,000 after buying an additional 35 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

About Bio-Rad Laboratories

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.