Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives $394.20 Average PT from Brokerages

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) have received a consensus rating of "Moderate Buy" from the five ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $394.20.

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

Hedge Funds Weigh In On Bio-Rad Laboratories

Several institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. grew its position in Bio-Rad Laboratories by 140.6% during the 3rd 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 last quarter. Gladius Capital Management LP purchased a new stake in shares of Bio-Rad Laboratories during the third quarter valued at approximately $32,000. Headlands Technologies LLC bought a new stake in shares of Bio-Rad Laboratories during the second quarter valued at approximately $51,000. Point72 Hong Kong Ltd purchased a new position in Bio-Rad Laboratories in the 3rd quarter worth approximately $55,000. Finally, Quarry LP bought a new position in Bio-Rad Laboratories in the 2nd quarter valued at approximately $59,000. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Trading Up 1.4 %

BIO traded up $4.59 during midday trading on Friday, reaching $330.75. 111,502 shares of the company's stock traded hands, compared to its average volume of 110,051. Bio-Rad Laboratories has a 52 week low of $262.12 and a 52 week high of $387.99. 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 firm has a fifty day moving average of $339.15 and a two-hundred day moving average of $325.36. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of -12.10 and a beta of 0.90.

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