Bio-Rad Laboratories (NYSE:BIO) Upgraded at Goldman Sachs Group

Goldman Sachs Group upgraded shares of Bio-Rad Laboratories (NYSE:BIO) from a buy rating to a conviction-buy rating in a research report released on Tuesday, BenzingaRatingsTable reports. Goldman Sachs Group currently has $400.00 price objective on the medical research company’s stock.

Other equities research analysts have also issued research reports about the stock. Barclays raised their target price on shares of Bio-Rad Laboratories from $350.00 to $380.00 and gave the stock an overweight rating in a report on Friday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Bio-Rad Laboratories from a strong-buy rating to a hold rating in a report on Wednesday, May 1st. Deutsche Bank raised their target price on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a buy rating in a report on Thursday, May 9th. Finally, ValuEngine upgraded shares of Bio-Rad Laboratories from a hold rating to a buy rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $378.33.

Bio-Rad Laboratories stock opened at $341.95 on Tuesday. The firm has a 50-day moving average price of $320.38 and a 200-day moving average price of $301.82. The firm has a market capitalization of $10.15 billion, a PE ratio of 58.55, a price-to-earnings-growth ratio of 3.16 and a beta of 1.21. The company has a current ratio of 4.68, a quick ratio of 3.36 and a debt-to-equity ratio of 0.11. Bio-Rad Laboratories has a 12-month low of $220.05 and a 12-month high of $345.50.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, August 1st. The medical research company reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.18. The firm had revenue of $572.60 million during the quarter, compared to analyst estimates of $564.88 million. Bio-Rad Laboratories had a net margin of 39.32% and a return on equity of 3.92%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business earned $1.64 EPS. As a group, sell-side analysts predict that Bio-Rad Laboratories will post 7.19 earnings per share for the current fiscal year.

In other news, EVP Timothy S. Ernst sold 310 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $320.00, for a total value of $99,200.00. Following the completion of the sale, the executive vice president now owns 3,100 shares in the company, valued at approximately $992,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 27.84% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in BIO. Motco bought a new stake in Bio-Rad Laboratories during the 2nd quarter valued at about $25,000. Berman Capital Advisors LLC bought a new stake in Bio-Rad Laboratories during the 2nd quarter valued at about $26,000. Quadrant Capital Group LLC lifted its holdings 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 valued at $29,000 after buying an additional 70 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stake in Bio-Rad Laboratories during the 2nd quarter valued at about $48,000. Finally, Advisory Services Network LLC lifted its holdings in Bio-Rad Laboratories by 64.9% during the 2nd quarter. Advisory Services Network LLC now owns 160 shares of the medical research company’s stock valued at $50,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 61.95% of the company’s stock.

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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