Bio-Rad Laboratories, Inc. (NYSE:BIO) Stock Has Consensus Price Target of $343.33

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have earned a consensus rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $343.33.

BIO has been the topic of a number of recent analyst reports. Zacks Research raised shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada boosted their target price on Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Citigroup upped their target price on Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Wells Fargo & Company increased their price target on Bio-Rad Laboratories from $310.00 to $330.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Bio-Rad Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, August 17th.

Bio-Rad Laboratories Stock Down 2.0%

NYSE BIO opened at $360.62 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.14 and a debt-to-equity ratio of 0.11. Bio-Rad Laboratories has a 52 week low of $236.73 and a 52 week high of $396.23. The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of 43.71 and a beta of 1.07. The company has a fifty day moving average of $370.77 and a two-hundred day moving average of $317.31.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.87. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The firm had revenue of $651.00 million during the quarter, compared to analyst estimates of $623.99 million. During the same quarter last year, the business earned $2.61 EPS. The business’s revenue was down .1% on a year-over-year basis. On average, analysts predict that Bio-Rad Laboratories will post 9.28 earnings per share for the current year.

Institutional Investors Weigh In On Bio-Rad Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new stake in Bio-Rad Laboratories during the 2nd quarter valued at $27,000. Hollencrest Capital Management bought a new position in shares of Bio-Rad Laboratories during the 1st quarter worth $28,000. Global Retirement Partners LLC grew its position in shares of Bio-Rad Laboratories by 812.5% during the 4th quarter. Global Retirement Partners LLC now owns 292 shares of the medical research company’s stock worth $88,000 after buying an additional 260 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at $113,000. Finally, Nykredit A S purchased a new position in shares of Bio-Rad Laboratories during the second quarter valued at $118,000. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global life science research and clinical diagnostics company headquartered in Hercules, California. Founded in 1952, the company develops, manufactures and sells products that support scientific research, biotechnology production, medical testing and quality assurance.

Its Life Science segment provides instruments, reagents, consumables and software used in areas such as genomics, proteomics, cell biology, digital PCR, electrophoresis, chromatography and biopharmaceutical manufacturing.