Wells Fargo & Company Has Lowered Expectations for Bio-Rad Laboratories (NYSE:BIO) Stock Price

Bio-Rad Laboratories (NYSE:BIO - Free Report) had its target price lowered by Wells Fargo & Company from $360.00 to $345.00 in a report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical research company's stock.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $481.00 target price on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Citigroup increased their target price 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. Finally, StockNews.com upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $395.20.

Bio-Rad Laboratories Stock Down 9.7 %

Bio-Rad Laboratories stock traded down $29.81 during mid-day trading on Wednesday, reaching $276.55. 1,065,491 shares of the company's stock were exchanged, compared to its average volume of 151,421. Bio-Rad Laboratories has a twelve month low of $262.12 and a twelve month high of $387.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52. The company has a fifty day moving average of $338.72 and a 200-day moving average of $336.15.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping 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 research analysts predict that Bio-Rad Laboratories will post 10.33 EPS for the current year.

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. raised its stake in Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company's stock worth $26,000 after acquiring an additional 45 shares in the last quarter. Venturi Wealth Management LLC grew its position in Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company's stock worth $30,000 after purchasing an additional 87 shares during the last quarter. GeoWealth Management LLC grew its position 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 worth $31,000 after purchasing an additional 72 shares during the last quarter. Gladius Capital Management LP purchased a new position in Bio-Rad Laboratories during the 3rd quarter worth $32,000. Finally, Picton Mahoney Asset Management grew its position in Bio-Rad Laboratories by 55.6% during 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 last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

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.