Bio-Rad Laboratories Inc. (BIO) Research Coverage Started at CL King
Analysts at CL King initiated coverage on shares of Bio-Rad Laboratories Inc. (NYSE:BIO) in a report issued on Wednesday, The Fly reports. The brokerage set a “buy” rating on the stock.
A number of other analysts have also weighed in on BIO. Zacks Investment Research raised shares of Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Jefferies Group raised their target price on shares of Bio-Rad Laboratories from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, September 7th.
Shares of Bio-Rad Laboratories (NYSE:BIO) traded down 0.44% during midday trading on Wednesday, reaching $161.06. 129,822 shares of the company’s stock were exchanged. Bio-Rad Laboratories has a one year low of $122.03 and a one year high of $164.89. The firm has a market cap of $4.74 billion, a PE ratio of 48.85 and a beta of 0.87. The stock’s 50-day moving average is $158.02 and its 200 day moving average is $147.67.
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Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by $0.52. Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 4.79%. The firm earned $516.80 million during the quarter, compared to analysts’ expectations of $497.80 million. During the same period last year, the company earned $0.97 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts anticipate that Bio-Rad Laboratories will post $3.10 EPS for the current year.
Institutional investors have recently modified their holdings of the company. Aperio Group LLC increased its position in Bio-Rad Laboratories by 10.0% in the first quarter. Aperio Group LLC now owns 8,629 shares of the company’s stock worth $1,180,000 after buying an additional 783 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Bio-Rad Laboratories by 2.5% in the first quarter. TIAA CREF Investment Management LLC now owns 89,746 shares of the company’s stock worth $12,270,000 after buying an additional 2,182 shares in the last quarter. Teachers Advisors Inc. increased its position in Bio-Rad Laboratories by 12.9% in the first quarter. Teachers Advisors Inc. now owns 20,147 shares of the company’s stock worth $2,754,000 after buying an additional 2,298 shares in the last quarter. BlackRock Inc. increased its position in Bio-Rad Laboratories by 8.5% in the first quarter. BlackRock Inc. now owns 23,195 shares of the company’s stock worth $3,171,000 after buying an additional 1,821 shares in the last quarter. Finally, BlackRock Group LTD increased its position in Bio-Rad Laboratories by 4.0% in the first quarter. BlackRock Group LTD now owns 82,018 shares of the company’s stock worth $11,212,000 after buying an additional 3,180 shares in the last quarter. 62.82% of the stock is currently owned by institutional investors and hedge funds.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of life science research and clinical diagnostics products. The Company manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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