Bio-Rad Laboratories (NYSE:BIO) Sets New 1-Year Low – Here’s Why

Bio-Rad Laboratories, Inc. (NYSE:BIO)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $262.11 and last traded at $262.60, with a volume of 137101 shares changing hands. The stock had previously closed at $265.63.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Wells Fargo & Company lowered their target price on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $395.20.

Bio-Rad Laboratories Trading Down 0.4 %

The firm has a market cap of $7.41 billion, a P/E ratio of -4.07 and a beta of 0.90. The business’s 50-day moving average is $327.02 and its two-hundred day moving average is $332.57. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. As a group, analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Institutional Trading of Bio-Rad Laboratories

A number of hedge funds have recently modified their holdings of the stock. Metis Global Partners LLC lifted its stake in shares of Bio-Rad Laboratories by 4.4% during the 4th quarter. Metis Global Partners LLC now owns 712 shares of the medical research company’s stock worth $234,000 after buying an additional 30 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Bio-Rad Laboratories by 13.2% during the 4th quarter. Signaturefd LLC now owns 265 shares of the medical research company’s stock worth $87,000 after buying an additional 31 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Bio-Rad Laboratories by 3.3% during the 3rd quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock worth $334,000 after buying an additional 32 shares during the last quarter. UMB Bank n.a. increased its position in Bio-Rad Laboratories by 41.6% during the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock worth $36,000 after acquiring an additional 32 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Bio-Rad Laboratories by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company’s stock worth $1,488,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds 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.