Bio-Rad Laboratories (NYSE:BIO) Cut to Neutral at Citigroup

Bio-Rad Laboratories (NYSE:BIO) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Tuesday,Finviz reports. They currently have a $300.00 price target on the medical research company’s stock. Citigroup’s price objective points to a potential upside of 7.54% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research report on Monday, December 29th. Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Bio-Rad Laboratories presently has an average rating of “Hold” and an average price target of $339.75.

Bio-Rad Laboratories Trading Down 0.4%

Bio-Rad Laboratories stock opened at $278.96 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.62 and a quick ratio of 4.19. Bio-Rad Laboratories has a one year low of $211.43 and a one year high of $343.12. The stock has a market capitalization of $7.53 billion, a PE ratio of 9.99 and a beta of 1.16. The business’s fifty day moving average is $277.97 and its 200 day moving average is $298.48.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, February 12th. The medical research company reported $2.51 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.06). Bio-Rad Laboratories had a net margin of 29.42% and a return on equity of 3.86%. The business had revenue of $693.20 million for the quarter, compared to analysts’ expectations of $694.64 million. During the same period last year, the business earned $2.90 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts predict that Bio-Rad Laboratories will post 10.81 EPS for the current year.

Institutional Trading of Bio-Rad Laboratories

Large investors have recently modified their holdings of the company. Quent Capital LLC bought a new stake in shares of Bio-Rad Laboratories in the third quarter worth $25,000. Farther Finance Advisors LLC grew its holdings in shares of Bio-Rad Laboratories by 52.9% in the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock worth $29,000 after acquiring an additional 36 shares during the period. Danske Bank A S bought a new stake in Bio-Rad Laboratories during the fourth quarter valued at about $30,000. Geneos Wealth Management Inc. grew its holdings in Bio-Rad Laboratories by 115.2% during the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 76 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in Bio-Rad Laboratories during the fourth quarter valued at about $47,000. Institutional investors own 65.24% of the company’s stock.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.