Bio-Rad Laboratories (NYSE:BIO) Sets New 52-Week High on Analyst Upgrade

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday after Citigroup raised their price target on the stock from $400.00 to $450.00. Citigroup currently has a buy rating on the stock. Bio-Rad Laboratories traded as high as $366.31 and last traded at $359.18, with a volume of 20116 shares traded. The stock had previously closed at $358.19.

Several other analysts have also recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an "equal weight" rating and a $340.00 target price on the stock. Royal Bank of Canada raised their price objective on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an "outperform" rating in a report on Thursday. Finally, StockNews.com downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $391.80.

Insiders Place Their Bets

In related news, COO Andrew J. Last sold 3,000 shares of the business's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the sale, the chief operating officer now directly owns 7,559 shares of the company's stock, valued at $2,494,016.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Andrew J. Last sold 3,000 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the sale, the chief operating officer now directly owns 7,559 shares of the company's stock, valued at approximately $2,494,016.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Barry sold 623 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total value of $205,895.27. Following the transaction, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.06% of the stock is owned by corporate insiders.

Institutional Trading of Bio-Rad Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in BIO. Commonwealth Equity Services LLC acquired a new position in shares of Bio-Rad Laboratories during the 1st quarter valued at about $731,000. Janney Montgomery Scott LLC increased its stake in Bio-Rad Laboratories by 16.8% during the first quarter. Janney Montgomery Scott LLC now owns 4,724 shares of the medical research company's stock worth $1,634,000 after acquiring an additional 680 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Bio-Rad Laboratories by 7.7% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 836 shares of the medical research company's stock worth $289,000 after purchasing an additional 60 shares during the period. First Pacific Advisors LP lifted its stake in shares of Bio-Rad Laboratories by 2,052.5% in the 1st quarter. First Pacific Advisors LP now owns 104,739 shares of the medical research company's stock valued at $36,226,000 after purchasing an additional 99,873 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Bio-Rad Laboratories by 17.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,230 shares of the medical research company's stock worth $771,000 after purchasing an additional 328 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 6.28 and a quick ratio of 4.63. The company's fifty day moving average is $332.92 and its 200 day moving average is $308.00.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.73. The company had revenue of $649.70 million during the quarter, compared to the consensus estimate of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.66%. Bio-Rad Laboratories's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $2.33 earnings per share. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 9.45 EPS for the current year.

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.