Bio-Rad Laboratories (NYSE:BIO) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Bio-Rad Laboratories (NYSE:BIO) from a buy rating to a hold rating in a research report report published on Monday.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Wells Fargo & Company lowered their price objective on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Finally, Citigroup increased their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $395.20.

Bio-Rad Laboratories Stock Performance

Shares of NYSE BIO opened at $276.55 on Monday. The firm has a fifty day moving average price of $337.34 and a 200-day moving average price of $335.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. The stock has a market cap of $7.74 billion, a PE ratio of -10.12 and a beta of 0.90. Bio-Rad Laboratories has a 1 year low of $262.12 and a 1 year high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. Equities analysts anticipate that Bio-Rad Laboratories will post 10.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several institutional investors have recently made changes to their positions in BIO. Venturi Wealth Management LLC lifted its holdings in shares of Bio-Rad Laboratories by 2,175.0% in the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after acquiring an additional 87 shares during the last quarter. GeoWealth Management LLC lifted its holdings in shares of Bio-Rad Laboratories by 342.9% in the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock worth $31,000 after acquiring an additional 72 shares during the last quarter. Gladius Capital Management LP bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth about $32,000. Picton Mahoney Asset Management lifted its holdings in shares of Bio-Rad Laboratories by 55.6% in the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock worth $32,000 after acquiring an additional 35 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth about $33,000. Institutional investors own 65.24% of the company’s stock.

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.