Bio-Rad Laboratories (NYSE:BIO) Reaches New 52-Week Low - Time to Sell?

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $235.84 and last traded at $244.29, with a volume of 395196 shares traded. The stock had previously closed at $243.00.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BIO. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a research note 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 dropped their price target 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $395.20.

Bio-Rad Laboratories Trading Down 4.1 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.85 and a current ratio of 6.48. The stock has a fifty day moving average of $281.98 and a 200 day moving average of $319.39. The company has a market capitalization of $6.31 billion, a PE ratio of -3.46 and a beta of 1.12.

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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 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, sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIO. Venturi Wealth Management LLC raised its position in Bio-Rad Laboratories by 2,175.0% during 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% in 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. Picton Mahoney Asset Management lifted its stake in Bio-Rad Laboratories by 55.6% in the fourth 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 last quarter. Asset Planning Inc purchased a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $33,000. Finally, UMB Bank n.a. grew its stake in shares of Bio-Rad Laboratories by 41.6% during the fourth quarter. UMB Bank n.a. now owns 109 shares of the medical research company's stock valued at $36,000 after buying an additional 32 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

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.