Bio-Rad Laboratories (NYSE:BIO) Sets New 12-Month Low - Here's Why

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $243.76 and last traded at $245.16, with a volume of 90768 shares traded. The stock had previously closed at $247.31.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BIO shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. StockNews.com downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Wells Fargo & Company lowered their price objective 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $395.20.

Bio-Rad Laboratories Trading Down 1.5 %

The company has a 50 day moving average of $293.54 and a 200 day moving average of $322.48. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of -3.74 and a beta of 0.98. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18.

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Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating 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%. As a group, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC raised its position in Bio-Rad Laboratories by 2,175.0% in the 4th 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 last quarter. GeoWealth Management LLC raised its holdings in shares of Bio-Rad Laboratories by 342.9% in the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock valued at $31,000 after buying an additional 72 shares during the last quarter. Picton Mahoney Asset Management lifted its position 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 buying an additional 35 shares in the last quarter. Asset Planning Inc acquired a new position in Bio-Rad Laboratories during the 4th quarter worth about $33,000. Finally, UMB Bank n.a. grew its holdings in Bio-Rad Laboratories by 41.6% during the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company's stock worth $36,000 after acquiring an additional 32 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

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.