Bio-Rad Laboratories, Inc. (NYSE:BIO) Receives Consensus Recommendation of “Buy” from Brokerages
Bio-Rad Laboratories, Inc. (NYSE:BIO) has been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $225.00.
BIO has been the subject of several recent analyst reports. Zacks Investment Research raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating and set a $244.00 price objective for the company in a report on Monday, May 1st. BidaskClub raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC reissued a “buy” rating and set a $250.00 price objective on shares of Bio-Rad Laboratories in a report on Tuesday, April 11th. Wells Fargo & Company initiated coverage on Bio-Rad Laboratories in a report on Thursday, July 13th. They set an “outperform” rating and a $250.00 price objective for the company. Finally, Deutsche Bank AG raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating and cut their price objective for the stock from $220.00 to $195.00 in a report on Wednesday, June 28th.
Shares of Bio-Rad Laboratories (NYSE:BIO) opened at 227.31 on Monday. The company’s 50-day moving average is $228.57 and its 200 day moving average is $210.72. Bio-Rad Laboratories has a 52-week low of $143.39 and a 52-week high of $239.91. The company has a market cap of $6.73 billion, a PE ratio of 241.31 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 for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.14. The business had revenue of $500.05 million during the quarter, compared to analyst estimates of $477.76 million. Bio-Rad Laboratories had a return on equity of 3.23% and a net margin of 1.35%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, analysts anticipate that Bio-Rad Laboratories will post $2.94 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new stake in Bio-Rad Laboratories during the second quarter worth $113,000. Advisory Services Network LLC purchased a new stake in Bio-Rad Laboratories during the first quarter worth $115,000. Flinton Capital Management LLC increased its stake 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 worth $128,000 after buying an additional 96 shares during the last quarter. Turner Investments LLC purchased a new stake in Bio-Rad Laboratories during the second quarter worth $136,000. Finally, Meadow Creek Investment Management LLC increased its stake in 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 worth $175,000 after buying an additional 132 shares during the last quarter. Institutional investors own 63.70% of the company’s stock.
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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