Bio-Rad Laboratories (NYSE:BIO) Stock Rating Lowered by StockNews.com

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Monday.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company reduced their target price on Bio-Rad Laboratories from $360.00 to $345.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 12th. 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. Finally, Citigroup lifted their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Bio-Rad Laboratories currently has a consensus rating of "Moderate Buy" and an average target price of $395.20.

Bio-Rad Laboratories Trading Down 2.2 %

NYSE BIO traded down $6.15 on Monday, reaching $279.48. 334,694 shares of the company were exchanged, compared to its average volume of 223,903. The business's fifty day moving average price is $334.00 and its 200 day moving average price is $334.62. The stock has a market capitalization of $7.83 billion, a P/E ratio of -4.30 and a beta of 0.90. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. Bio-Rad Laboratories has a fifty-two week low of $262.12 and a fifty-two week 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 positive return on equity of 3.90% and a negative net margin of 71.86%. Analysts forecast that Bio-Rad Laboratories will post 10.81 earnings per share for the current year.

Institutional Investors Weigh In On Bio-Rad Laboratories

Institutional investors and hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock worth $30,000 after purchasing an additional 87 shares during the period. GeoWealth Management LLC increased its holdings 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 worth $31,000 after purchasing an additional 72 shares during the period. Gladius Capital Management LP purchased a new stake in Bio-Rad Laboratories during the 3rd quarter worth about $32,000. Picton Mahoney Asset Management increased its holdings in 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 purchasing an additional 35 shares during the period. Finally, Asset Planning Inc purchased a new stake in Bio-Rad Laboratories during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

About Bio-Rad Laboratories

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.