Bio-Rad Laboratories, Inc. (NYSE:BIO) Given Average Recommendation of "Moderate Buy" by Analysts

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) has received an average rating of "Moderate Buy" from the five research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research 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 brokers that have covered the stock in the last year is $395.20.

Several analysts recently commented on the company. Royal Bank of Canada restated an "outperform" rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. StockNews.com cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Finally, Wells Fargo & Company decreased 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 report on Wednesday, February 12th.

Hedge Funds Weigh In On Bio-Rad Laboratories

Several large investors have recently made changes to their positions in the business. Wealthfront Advisers LLC acquired a new stake in Bio-Rad Laboratories during the fourth quarter valued at approximately $342,686,000. Bank of America Corp DE boosted its stake in shares of Bio-Rad Laboratories by 705.9% during the 4th quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company's stock worth $140,370,000 after acquiring an additional 374,269 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Bio-Rad Laboratories in the 3rd quarter worth $83,681,000. Ariel Investments LLC raised its position in shares of Bio-Rad Laboratories by 48.0% during the fourth quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company's stock worth $184,138,000 after purchasing an additional 181,829 shares during the period. Finally, Norges Bank acquired a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth $41,644,000. Institutional investors own 65.24% of the company's stock.

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Bio-Rad Laboratories Stock Performance

Shares of NYSE BIO traded up $1.95 during mid-day trading on Wednesday, hitting $256.42. The company had a trading volume of 1,439,995 shares, compared to its average volume of 289,974. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of -3.94 and a beta of 0.98. The firm's 50 day simple moving average is $303.23 and its two-hundred day simple moving average is $325.34. 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 has a 12 month low of $244.00 and a 12 month high of $387.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, topping 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, equities research analysts forecast that Bio-Rad Laboratories will post 10.81 earnings per share for the current 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.