Bio-Rad Laboratories, Inc. (NYSE:BIO) Given Consensus Rating of “Moderate Buy” by Analysts

Bio-Rad Laboratories, Inc. (NYSE:BIO) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $394.20.

BIO has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup boosted their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st.

Bio-Rad Laboratories Trading Up 0.1 %

Shares of BIO opened at $343.88 on Friday. Bio-Rad Laboratories has a fifty-two week low of $262.12 and a fifty-two week high of $387.99. The company has a market capitalization of $9.63 billion, a PE ratio of -12.58 and a beta of 0.90. The stock has a fifty day moving average of $339.69 and a two-hundred day moving average of $326.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The firm had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. During the same period last year, the company earned $2.33 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, analysts forecast that Bio-Rad Laboratories will post 10.29 EPS for the current year.

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of large investors have recently modified their holdings of BIO. Van ECK Associates Corp grew its position in Bio-Rad Laboratories by 97.8% in the third quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock valued at $436,861,000 after acquiring an additional 644,530 shares in the last quarter. Select Equity Group L.P. grew its holdings in Bio-Rad Laboratories by 26.2% during the 2nd quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock valued at $177,391,000 after purchasing an additional 134,856 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Bio-Rad Laboratories by 32,296.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after buying an additional 634,311 shares during the period. Earnest Partners LLC lifted its holdings in Bio-Rad Laboratories by 17.8% in the 2nd quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock worth $165,720,000 after buying an additional 91,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Bio-Rad Laboratories by 64.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock valued at $135,081,000 after buying an additional 193,700 shares during the last quarter. 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.