Bio-Rad Laboratories, Inc. (BIO) Downgraded by Zacks Investment Research to Sell
Bio-Rad Laboratories, Inc. (NYSE:BIO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
According to Zacks, “Bio-Rad Laboratories, Inc., together with its subsidiaries, engages in the manufacture and supply of products and systems for the life science research, healthcare, analytical chemistry, and other markets worldwide. The company’s products are used to separate complex chemical and biological materials, and to identify, analyze, and purify their components. It operates in two segments, Life Science and Clinical Diagnostics. The Life Science segment offers electrophoresis, image analysis, molecular detection, chromatography, gene transfer, sample preparation, and amplification products and services. The Clinical Diagnostics segment provides control, autoimmune, diabetes, and blood virus testing products. Bio-Rad is renowned worldwide among hospitals, universities, major research institutions, as well as biotechnology and pharmaceutical companies for its commitment to quality and customer service. The company is headquartered in Hercules, California. “
Several other brokerages also recently weighed in on BIO. BidaskClub raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $275.00 price target on shares of Bio-Rad Laboratories in a report on Friday, July 14th. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a report on Thursday, July 13th. They set an “outperform” rating and a $250.00 price target for the company. Deutsche Bank AG raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating and reduced their target price for the company from $220.00 to $195.00 in a report on Wednesday, June 28th. Finally, TheStreet downgraded Bio-Rad Laboratories from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Bio-Rad Laboratories has an average rating of “Buy” and a consensus price target of $240.00.
Bio-Rad Laboratories (NYSE BIO) traded up 0.05% during trading on Thursday, hitting $223.89. 65,101 shares of the company traded hands. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 442.47 and a beta of 0.91. Bio-Rad Laboratories has a 52-week low of $154.89 and a 52-week high of $242.79. The company’s 50-day moving average is $222.22 and its 200 day moving average is $220.83.
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In other Bio-Rad Laboratories news, EVP Michael Crowley sold 700 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $215.91, for a total value of $151,137.00. Following the completion of the sale, the executive vice president now owns 2,060 shares of the company’s stock, valued at $444,774.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 28.29% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in BIO. BlackRock Inc. lifted its holdings in Bio-Rad Laboratories by 9,953.4% in the first quarter. BlackRock Inc. now owns 1,733,111 shares of the medical research company’s stock valued at $345,478,000 after acquiring an additional 1,715,872 shares during the period. FMR LLC lifted its holdings in Bio-Rad Laboratories by 237.4% in the second quarter. FMR LLC now owns 711,313 shares of the medical research company’s stock valued at $160,978,000 after acquiring an additional 500,513 shares during the period. Royal Bank of Canada lifted its holdings in Bio-Rad Laboratories by 101.2% in the second quarter. Royal Bank of Canada now owns 3,324 shares of the medical research company’s stock valued at $752,000 after acquiring an additional 281,264 shares during the period. Wells Fargo & Company MN lifted its holdings in Bio-Rad Laboratories by 93.1% in the second quarter. Wells Fargo & Company MN now owns 523,876 shares of the medical research company’s stock valued at $118,557,000 after acquiring an additional 252,643 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC lifted its holdings in Bio-Rad Laboratories by 217.6% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 318,942 shares of the medical research company’s stock valued at $72,180,000 after acquiring an additional 218,512 shares during the period. 62.84% of the stock is 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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