Jefferies Group LLC Reaffirms “Buy” Rating for Bio-Rad Laboratories, Inc. (BIO)
Bio-Rad Laboratories, Inc. (NYSE:BIO)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group LLC in a report issued on Friday. They currently have a $275.00 target price on the medical research company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 18.86% from the stock’s current price.
A number of other research firms also recently issued reports on BIO. Zacks Investment Research upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating and set a $244.00 target price for the company in a research report on Monday, May 1st. BidaskClub upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a research report on Thursday. They set an “outperform” rating and a $250.00 target price for the company. Finally, Deutsche Bank AG upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating and decreased their target price for the company from $220.00 to $195.00 in a research report on Wednesday, June 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $228.80.
Shares of Bio-Rad Laboratories (NYSE:BIO) traded down 0.12% during midday trading on Friday, reaching $231.37. 70,061 shares of the company’s stock were exchanged. Bio-Rad Laboratories has a one year low of $140.53 and a one year high of $232.07. The stock’s 50-day moving average is $222.92 and its 200 day moving average is $202.79. The firm has a market cap of $6.85 billion, a PE ratio of 245.62 and a beta of 0.91.
Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, May 4th. The medical research company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $500.05 million during the quarter, compared to the consensus estimate of $477.76 million. Bio-Rad Laboratories had a net margin of 1.35% and a return on equity of 3.23%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. Analysts anticipate that Bio-Rad Laboratories will post $2.94 EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC purchased a new position in Bio-Rad Laboratories during the fourth quarter worth $30,186,000. Bank of New York Mellon Corp boosted its position in Bio-Rad Laboratories by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 244,936 shares of the medical research company’s stock worth $48,826,000 after buying an additional 15,496 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Bio-Rad Laboratories during the first quarter worth $1,253,000. Great West Life Assurance Co. Can boosted its position in Bio-Rad Laboratories by 3.9% in the first quarter. Great West Life Assurance Co. Can now owns 12,380 shares of the medical research company’s stock worth $2,467,000 after buying an additional 469 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Bio-Rad Laboratories by 23.8% in the first quarter. Parametric Portfolio Associates LLC now owns 90,855 shares of the medical research company’s stock worth $18,111,000 after buying an additional 17,492 shares during the last quarter. 63.85% of the stock is owned by institutional investors.
About Bio-Rad Laboratories
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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