Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Average Rating of “Hold” from Brokerages

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have received a consensus rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $358.20.

BIO has been the subject of several research reports. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price objective for the company. Citigroup lifted their price target on Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a research note on Monday, June 3rd. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $401.00 price target on shares of Bio-Rad Laboratories in a research report on Friday, August 16th.

Insider Buying and Selling

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the sale, the executive vice president now owns 147 shares in the company, valued at approximately $48,582.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total value of $205,895.27. Following the transaction, the executive vice president now directly owns 147 shares of the company’s stock, valued at approximately $48,582.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $329.94, for a total value of $989,820.00. Following the sale, the chief operating officer now owns 7,559 shares of the company’s stock, valued at $2,494,016.46. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BIO. Brio Consultants LLC acquired a new position in Bio-Rad Laboratories during the fourth quarter worth $840,000. Corient Private Wealth LLC lifted its position in shares of Bio-Rad Laboratories by 11.2% in the fourth quarter. Corient Private Wealth LLC now owns 2,178 shares of the medical research company’s stock worth $703,000 after buying an additional 220 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Bio-Rad Laboratories by 34.3% during the 4th quarter. Hsbc Holdings PLC now owns 29,067 shares of the medical research company’s stock worth $9,401,000 after acquiring an additional 7,426 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Bio-Rad Laboratories by 38.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 151,691 shares of the medical research company’s stock valued at $48,980,000 after acquiring an additional 41,937 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Bio-Rad Laboratories by 36.8% in the 4th quarter. Parallel Advisors LLC now owns 171 shares of the medical research company’s stock valued at $55,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock opened at $327.89 on Wednesday. Bio-Rad Laboratories has a 52 week low of $261.59 and a 52 week high of $366.30. The company has a current ratio of 6.28, a quick ratio of 4.63 and a debt-to-equity ratio of 0.18. The stock has a market cap of $9.35 billion, a PE ratio of -31.65 and a beta of 0.95. The company’s 50-day moving average price is $324.52 and its two-hundred day moving average price is $307.29.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.12 by $0.99. The business had revenue of $638.50 million during the quarter, compared to analyst estimates of $645.79 million. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.00 earnings per share. As a group, sell-side analysts anticipate that Bio-Rad Laboratories will post 10.31 EPS for the current fiscal year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.