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

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $262.11 and last traded at $262.60, with a volume of 137101 shares. The stock had previously closed at $265.63.

Analysts Set New Price Targets

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

Bio-Rad Laboratories Stock Performance

The company has a market cap of $7.04 billion, a P/E ratio of -3.86 and a beta of 0.90. The business has a 50 day moving average price of $325.57 and a two-hundred day moving average price of $332.16. 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 announced its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, beating the consensus estimate 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%. On average, sell-side analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

Institutional Investors Weigh In On Bio-Rad Laboratories

Large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in shares of 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 acquiring an additional 87 shares during the last quarter. 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 valued at $31,000 after purchasing an additional 72 shares during the period. Gladius Capital Management LP bought a new position in Bio-Rad Laboratories during the 3rd quarter valued at approximately $32,000. Picton Mahoney Asset Management lifted 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 buying an additional 35 shares during the period. Finally, Asset Planning Inc bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $33,000. 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.