CL King Begins Coverage on Bio-Rad Laboratories Inc. (BIO)
Equities researchers at CL King initiated coverage on shares of Bio-Rad Laboratories Inc. (NYSE:BIO) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.
Other research analysts have also issued reports about the stock. Jefferies Group raised their price target on shares of Bio-Rad Laboratories from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, September 7th. Zacks Investment Research raised shares of Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th.
Shares of Bio-Rad Laboratories (NYSE:BIO) traded down 0.44% on Wednesday, hitting $161.06. The company’s stock had a trading volume of 129,822 shares. The stock has a 50-day moving average price of $158.02 and a 200 day moving average price of $147.67. 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 price-to-earnings ratio of 48.85 and a beta of 0.87.
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Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results 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. The company earned $516.80 million during the quarter, compared to analysts’ expectations of $497.80 million. Bio-Rad Laboratories had a net margin of 4.79% and a return on equity of 3.86%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 earnings per share. Equities research analysts predict that Bio-Rad Laboratories will post $3.10 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its stake in Bio-Rad Laboratories by 22.3% in the second quarter. Advisors Asset Management Inc. now owns 734 shares of the company’s stock worth $105,000 after buying an additional 134 shares during the last quarter. Advisor Group Inc. purchased a new stake in shares of Bio-Rad Laboratories during the second quarter worth about $108,000. Barclays PLC increased its stake in shares of Bio-Rad Laboratories by 48.8% in the second quarter. Barclays PLC now owns 1,052 shares of the company’s stock worth $149,000 after buying an additional 345 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Bio-Rad Laboratories by 10,254.5% in the first quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company’s stock worth $156,000 after buying an additional 1,128 shares in the last quarter. Finally, Creative Planning increased its stake in shares of Bio-Rad Laboratories by 14.0% in the third quarter. Creative Planning now owns 1,007 shares of the company’s stock worth $165,000 after buying an additional 124 shares in the last quarter. Institutional investors own 62.82% of the company’s stock.
Bio-Rad Laboratories Company Profile
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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