Bio-Rad Laboratories (NYSE:BIO) Shares Down 4.2% - Here's Why

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report)'s stock price fell 4.2% on Monday . The stock traded as low as $325.75 and last traded at $327.90. 20,482 shares were traded during mid-day trading, a decline of 86% from the average session volume of 150,614 shares. The stock had previously closed at $342.13.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BIO. StockNews.com raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Citigroup raised their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. 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. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $481.00 price objective on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $395.20.

Bio-Rad Laboratories Stock Down 9.7 %

The business's fifty day moving average price is $338.72 and its 200 day moving average price is $336.18. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of -10.12 and a beta of 0.90. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, beating analysts' consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. On average, equities analysts expect that Bio-Rad Laboratories, Inc. will post 10.33 EPS for the current year.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of institutional investors have recently modified their holdings of the business. Wealthfront Advisers LLC purchased a new position in Bio-Rad Laboratories in the 4th quarter valued at $342,686,000. Van ECK Associates Corp grew its position in Bio-Rad Laboratories by 97.8% in the 3rd quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company's stock valued at $436,861,000 after buying an additional 644,530 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Bio-Rad Laboratories in the 3rd quarter valued at $83,681,000. Norges Bank purchased a new position in Bio-Rad Laboratories in the 4th quarter valued at $41,644,000. Finally, Dimensional Fund Advisors LP grew its position in Bio-Rad Laboratories by 14.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 746,119 shares of the medical research company's stock valued at $245,106,000 after buying an additional 91,690 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.