Bio-Rad Laboratories (NYSE:BIO) PT Lowered to $430.00

Bio-Rad Laboratories (NYSE:BIO) had its target price dropped by analysts at Barclays from $435.00 to $430.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the medical research company’s stock. Barclays‘s target price would suggest a potential upside of 28.39% from the stock’s previous close.

Several other brokerages have also recently commented on BIO. Citigroup reduced their target price on Bio-Rad Laboratories from $450.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, March 20th. Wells Fargo & Co lifted their price objective on Bio-Rad Laboratories from $430.00 to $440.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Bio-Rad Laboratories presently has a consensus rating of “Buy” and an average target price of $414.00.

BIO stock traded up $1.92 during midday trading on Thursday, hitting $334.92. The stock had a trading volume of 15,264 shares, compared to its average volume of 289,267. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 5.74 and a beta of 1.07. Bio-Rad Laboratories has a 52 week low of $281.66 and a 52 week high of $413.02. The stock has a 50-day simple moving average of $367.71 and a 200 day simple moving average of $358.85. The company has a current ratio of 2.41, a quick ratio of 1.80 and a debt-to-equity ratio of 0.03.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, February 13th. The medical research company reported $2.32 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.12). The firm had revenue of $624.43 million during the quarter, compared to the consensus estimate of $636.50 million. Bio-Rad Laboratories had a return on equity of 4.06% and a net margin of 76.08%. On average, equities analysts forecast that Bio-Rad Laboratories will post 8.35 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of BIO. Norges Bank bought a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at $78,177,000. Pictet Asset Management Ltd. increased its stake in shares of Bio-Rad Laboratories by 714.2% in the fourth quarter. Pictet Asset Management Ltd. now owns 182,766 shares of the medical research company’s stock valued at $67,629,000 after buying an additional 160,320 shares in the last quarter. State Street Corp increased its stake in shares of Bio-Rad Laboratories by 31.1% in the fourth quarter. State Street Corp now owns 656,853 shares of the medical research company’s stock valued at $243,055,000 after buying an additional 156,001 shares in the last quarter. FMR LLC increased its stake in shares of Bio-Rad Laboratories by 30.3% in the fourth quarter. FMR LLC now owns 644,084 shares of the medical research company’s stock valued at $238,330,000 after buying an additional 149,842 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Bio-Rad Laboratories by 75.3% in the fourth quarter. AQR Capital Management LLC now owns 319,842 shares of the medical research company’s stock valued at $118,351,000 after buying an additional 137,361 shares in the last quarter. 63.32% of the stock is owned by institutional investors.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

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Analyst Recommendations for Bio-Rad Laboratories (NYSE:BIO)

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