Brokerages Set Bio-Rad Laboratories, Inc. (NYSE:BIO) PT at $368.20

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have received an average rating of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $368.20.

A number of analysts have weighed in on BIO shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $401.00 target price on shares of Bio-Rad Laboratories in a research note on Friday, August 16th. Citigroup upgraded Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $350.00 to $400.00 in a research report on Tuesday, October 1st. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, 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 target on the stock.

Insider Activity at Bio-Rad Laboratories

In other news, COO Andrew J. Last sold 3,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the sale, the chief operating officer now owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Andrew J. Last sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $329.94, for a total value of $989,820.00. Following the transaction, the chief operating officer now owns 7,559 shares in the company, valued at approximately $2,494,016.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Barry sold 623 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction of $205,895.27. Following the completion of the sale, the executive vice president now directly owns 147 shares in the company, valued at approximately $48,582.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UMB Bank n.a. raised its holdings in shares of Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 45 shares during the period. Wahed Invest LLC boosted its holdings in Bio-Rad Laboratories by 14.0% in the first quarter. Wahed Invest LLC now owns 399 shares of the medical research company’s stock worth $138,000 after acquiring an additional 49 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Bio-Rad Laboratories by 7.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 836 shares of the medical research company’s stock valued at $289,000 after acquiring an additional 60 shares during the period. Capital Advisors Ltd. LLC grew its stake in Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 62 shares during the period. Finally, Natixis increased its holdings in shares of Bio-Rad Laboratories by 3.4% during the first quarter. Natixis now owns 1,986 shares of the medical research company’s stock valued at $687,000 after acquiring an additional 65 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $340.10 on Friday. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18. The stock has a market cap of $9.70 billion, a PE ratio of -32.83 and a beta of 0.95. Bio-Rad Laboratories has a 12-month low of $261.59 and a 12-month high of $364.24. The business’s 50-day moving average price is $330.87 and its two-hundred day moving average price is $307.14.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.99. The company had revenue of $638.50 million for the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $3.00 EPS. As a group, analysts expect that Bio-Rad Laboratories will post 9.45 earnings per share for the current fiscal year.

About Bio-Rad Laboratories

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.