Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have been assigned an average rating of “Hold” from the six research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $358.50.

A number of research firms have weighed in on BIO. Wall Street Zen cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research report on Monday, December 29th.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several institutional investors have recently bought and sold shares of the company. Quent Capital LLC purchased a new stake in Bio-Rad Laboratories during the 3rd quarter worth approximately $25,000. Farther Finance Advisors LLC lifted its position 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 valued at $29,000 after acquiring an additional 36 shares in the last quarter. Danske Bank A S purchased a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $30,000. Geneos Wealth Management Inc. boosted its stake in shares of Bio-Rad Laboratories by 115.2% in the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after acquiring an additional 76 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth approximately $47,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Up 0.4%

Bio-Rad Laboratories stock opened at $262.91 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.62 and a quick ratio of 4.19. The stock has a market capitalization of $7.10 billion, a PE ratio of 9.42 and a beta of 1.18. The business has a 50 day simple moving average of $292.06 and a 200-day simple moving average of $300.29. Bio-Rad Laboratories has a 12 month low of $211.43 and a 12 month high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, February 12th. The medical research company reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business earned $2.90 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts anticipate that Bio-Rad Laboratories will post 10.81 EPS for the current fiscal year.

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.