Bio-Rad Laboratories, Inc. (BIO) Receives Average Recommendation of “Buy” from Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have been assigned an average rating of “Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $366.00.

Several brokerages have recently weighed in on BIO. ValuEngine upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Deutsche Bank increased their price objective on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Barclays increased their price objective on shares of Bio-Rad Laboratories from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Finally, Zacks Investment Research cut shares of Bio-Rad Laboratories from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 1st.

Shares of NYSE:BIO opened at $296.72 on Friday. Bio-Rad Laboratories has a twelve month low of $220.05 and a twelve month high of $345.15. The company has a current ratio of 4.57, a quick ratio of 3.24 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $8.92 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 2.79 and a beta of 1.23.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Wednesday, May 8th. The medical research company reported $1.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.53. Bio-Rad Laboratories had a net margin of 24.84% and a return on equity of 4.15%. The firm had revenue of $553.98 million for the quarter, compared to analysts’ expectations of $548.82 million. As a group, analysts expect that Bio-Rad Laboratories will post 7.15 EPS for the current fiscal year.

In other Bio-Rad Laboratories news, EVP Timothy S. Ernst sold 345 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $290.00, for a total transaction of $100,050.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 27.84% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its stake in Bio-Rad Laboratories by 205.9% during the 1st quarter. Quadrant Capital Group LLC now owns 104 shares of the medical research company’s stock worth $29,000 after acquiring an additional 70 shares during the period. Financial Gravity Wealth Inc. bought a new stake in Bio-Rad Laboratories during the 1st quarter worth approximately $57,000. Enlightenment Research LLC bought a new stake in Bio-Rad Laboratories during the 4th quarter worth approximately $70,000. Cresset Asset Management LLC bought a new stake in Bio-Rad Laboratories during the 1st quarter worth approximately $78,000. Finally, Rockefeller Capital Management L.P. bought a new stake in Bio-Rad Laboratories during the 1st quarter worth approximately $81,000. Institutional investors own 64.30% of the company’s stock.

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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