Bio-Rad Laboratories, Inc. (BIO) Given Consensus Rating of “Buy” by Brokerages

Bio-Rad Laboratories, Inc. (NYSE:BIO) has earned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $359.17.

A number of equities analysts recently issued reports on BIO shares. Barclays upgraded Bio-Rad Laboratories from an “equal weight” rating to an “overweight” rating and set a $315.00 price objective for the company in a report on Thursday, January 3rd. Zacks Investment Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Thursday, January 3rd. Finally, Deutsche Bank upped their target price on Bio-Rad Laboratories from $330.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, March 1st.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Enlightenment Research LLC acquired a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at about $70,000. South Dakota Investment Council purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth about $116,000. First Republic Investment Management Inc. purchased a new stake in shares of Bio-Rad Laboratories in the third quarter worth about $208,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter worth about $219,000. Finally, Brown Advisory Inc. boosted its stake in shares of Bio-Rad Laboratories by 15.0% in the fourth quarter. Brown Advisory Inc. now owns 1,067 shares of the medical research company’s stock worth $248,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 63.65% of the company’s stock.

BIO traded down $0.08 during trading hours on Friday, reaching $305.80. 121,454 shares of the company’s stock traded hands, compared to its average volume of 257,770. Bio-Rad Laboratories has a 52-week low of $220.05 and a 52-week high of $345.15. The company has a quick ratio of 3.20, a current ratio of 4.51 and a debt-to-equity ratio of 0.11. The stock has a market cap of $9.16 billion, a P/E ratio of 52.36, a PEG ratio of 2.88 and a beta of 1.27.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, February 28th. The medical research company reported $2.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.52. Bio-Rad Laboratories had a return on equity of 3.92% and a net margin of 15.76%. The company had revenue of $617.54 million during the quarter, compared to analysts’ expectations of $610.65 million. Equities analysts anticipate that Bio-Rad Laboratories will post 7.16 EPS for the current fiscal year.

About Bio-Rad Laboratories

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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