Q3 2017 EPS Estimates for Bio-Rad Laboratories, Inc. (BIO) Cut by Analyst
Bio-Rad Laboratories, Inc. (NYSE:BIO) – Stock analysts at Jefferies Group decreased their Q3 2017 earnings per share estimates for Bio-Rad Laboratories in a report released on Monday. Jefferies Group analyst B. Couillard now forecasts that the medical research company will post earnings per share of $0.26 for the quarter, down from their previous forecast of $0.39. Jefferies Group has a “Buy” rating and a $275.00 price target on the stock. Jefferies Group also issued estimates for Bio-Rad Laboratories’ Q3 2018 earnings at $1.05 EPS.
A number of other brokerages have also recently commented on BIO. Zacks Investment Research cut Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. BidaskClub raised 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 Bio-Rad Laboratories in a research report on Thursday, July 13th. They set an “outperform” rating and a $250.00 price target on the stock. Deutsche Bank AG raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating and dropped their price target for the company from $220.00 to $195.00 in a research report on Wednesday, June 28th. Finally, TheStreet cut Bio-Rad Laboratories from a “b” rating to a “c+” rating in a research report on Thursday, August 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $240.00.
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Bio-Rad Laboratories (NYSE BIO) opened at 222.67 on Wednesday. The firm’s 50-day moving average price is $222.12 and its 200 day moving average price is $220.81. Bio-Rad Laboratories has a 52-week low of $154.89 and a 52-week high of $242.79. The company has a market cap of $6.60 billion, a PE ratio of 440.06 and a beta of 0.91.
Several hedge funds and other institutional investors have recently modified their holdings of BIO. Canada Pension Plan Investment Board purchased a new position in shares of Bio-Rad Laboratories during the 2nd quarter valued at $113,000. Pacad Investment Ltd. bought a new stake in shares of Bio-Rad Laboratories during the 2nd quarter valued at $113,000. Turner Investments LLC bought a new stake in shares of Bio-Rad Laboratories during the 2nd quarter valued at $136,000. Capital Analysts LLC bought a new stake in shares of Bio-Rad Laboratories during the 2nd quarter valued at $170,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Bio-Rad Laboratories by 12.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 815 shares of the medical research company’s stock valued at $184,000 after purchasing an additional 90 shares during the period. 62.84% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Michael Crowley sold 700 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $215.91, for a total transaction of $151,137.00. Following the transaction, the executive vice president now owns 2,060 shares of the company’s stock, valued at approximately $444,774.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 28.29% of the stock is owned by corporate insiders.
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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