Bio-Rad Laboratories, Inc. (BIO) Receives Average Rating of “Buy” from Analysts
Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have been given an average broker rating score of 2.00 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company.
Analysts have set a 12 month consensus price objective of $238.33 for the company and are expecting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also given Bio-Rad Laboratories an industry rank of 152 out of 265 based on the ratings given to related companies.
Several research firms have commented on BIO. Jefferies Group LLC reaffirmed a “buy” rating and set a $250.00 price target on shares of Bio-Rad Laboratories in a research report on Thursday, April 27th. Deutsche Bank AG reaffirmed a “hold” rating and set a $195.00 price target on shares of Bio-Rad Laboratories in a research report on Wednesday, January 18th. Finally, Zacks Investment Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Monday, March 27th.
Shares of Bio-Rad Laboratories (NYSE:BIO) traded up 0.44% during mid-day trading on Tuesday, hitting $223.29. The stock had a trading volume of 119,517 shares. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 237.04 and a beta of 0.89. The firm has a 50 day moving average of $210.31 and a 200 day moving average of $190.97. Bio-Rad Laboratories has a one year low of $135.94 and a one year high of $224.24.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, May 4th. The medical research company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $500.05 million for the quarter, compared to analyst estimates of $477.76 million. Bio-Rad Laboratories had a return on equity of 3.79% and a net margin of 4.75%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, analysts forecast that Bio-Rad Laboratories will post $2.85 earnings per share for the current year.
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In other Bio-Rad Laboratories news, EVP Michael Crowley sold 300 shares of Bio-Rad Laboratories stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $196.13, for a total transaction of $58,839.00. Following the transaction, the executive vice president now owns 2,760 shares of the company’s stock, valued at $541,318.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 28.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in Bio-Rad Laboratories during the first quarter valued at approximately $115,000. Advisor Group Inc. raised its position in Bio-Rad Laboratories by 0.3% in the third quarter. Advisor Group Inc. now owns 768 shares of the medical research company’s stock valued at $126,000 after buying an additional 2 shares during the period. Flinton Capital Management LLC raised its position in Bio-Rad Laboratories by 17.6% in the first quarter. Flinton Capital Management LLC now owns 640 shares of the medical research company’s stock valued at $128,000 after buying an additional 96 shares during the period. Meadow Creek Investment Management LLC increased its position in shares of Bio-Rad Laboratories by 17.6% in the first quarter. Meadow Creek Investment Management LLC now owns 880 shares of the medical research company’s stock valued at $175,000 after buying an additional 132 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Bio-Rad Laboratories by 6.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,020 shares of the medical research company’s stock valued at $176,000 after buying an additional 65 shares during the period. 64.29% of the stock is currently owned by institutional investors.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It 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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