Bio-Rad Laboratories (NYSE:BIO) Sets New 52-Week Low - What's Next?

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $215.38 and last traded at $217.55, with a volume of 21241 shares. The stock had previously closed at $225.60.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BIO shares. StockNews.com downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Wells Fargo & Company cut their price objective 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. Finally, 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. Three 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, Bio-Rad Laboratories presently has a consensus rating of "Moderate Buy" and a consensus price target of $395.20.

Bio-Rad Laboratories Price Performance

The stock has a fifty day moving average of $264.86 and a 200 day moving average of $314.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of -3.77 and a beta of 1.12.

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, analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC boosted its holdings 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 worth $30,000 after buying an additional 87 shares in the last quarter. GeoWealth Management LLC grew its position in shares of 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 acquiring an additional 72 shares during the period. Picton Mahoney Asset Management raised its holdings in Bio-Rad Laboratories by 55.6% in 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. Asset Planning Inc acquired a new stake in Bio-Rad Laboratories in the fourth quarter valued at approximately $33,000. Finally, UMB Bank n.a. grew its stake in Bio-Rad Laboratories by 41.6% in the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company's stock valued at $36,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.

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.