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

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five research firms that are currently covering the company, MarketBeat.com reports. Two 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 $395.20.

Several research analysts have issued reports on BIO shares. Royal Bank of Canada reissued an "outperform" rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Citigroup boosted their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. StockNews.com lowered Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Finally, 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 on the stock in a report on Wednesday, February 12th.

Bio-Rad Laboratories Stock Down 0.8 %

Shares of BIO traded down $2.34 during trading hours on Friday, hitting $277.81. The company had a trading volume of 315,406 shares, compared to its average volume of 227,822. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of -4.27 and a beta of 0.90. The firm has a fifty day moving average price of $330.43 and a 200-day moving average price of $333.76. 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 0.18, a quick ratio of 4.85 and a current ratio of 6.48.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, equities research analysts forecast that Bio-Rad Laboratories will post 10.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Bio-Rad Laboratories

Hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC boosted its holdings in shares of Bio-Rad Laboratories by 2,175.0% in the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock valued at $30,000 after purchasing an additional 87 shares during the period. GeoWealth Management LLC raised its position in Bio-Rad Laboratories by 342.9% during the 4th quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after purchasing an additional 72 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Bio-Rad Laboratories in the 3rd quarter worth $32,000. Picton Mahoney Asset Management grew its position in shares of Bio-Rad Laboratories by 55.6% during the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock worth $32,000 after buying an additional 35 shares in the last quarter. Finally, Asset Planning Inc purchased a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at $33,000. 65.24% of the stock is currently owned by institutional investors.

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.