Bio-Rad Laboratories, Inc. (BIO) Given Consensus Recommendation of “Buy” by Analysts

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $277.75.

A number of research analysts have recently commented on the company. Wells Fargo & Co reiterated an “outperform” rating and set a $290.00 target price (up from $250.00) on shares of Bio-Rad Laboratories in a research report on Wednesday, November 29th. TheStreet upgraded Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Finally, Zacks Investment Research upgraded Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th.

In other news, CFO Christine A. Tsingos sold 4,980 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $249.40, for a total transaction of $1,242,012.00. Following the completion of the transaction, the chief financial officer now directly owns 7,283 shares in the company, valued at approximately $1,816,380.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James R. Stark sold 746 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $270.51, for a total value of $201,800.46. The disclosure for this sale can be found here. Insiders have sold a total of 9,126 shares of company stock valued at $2,309,426 over the last quarter. Corporate insiders own 28.29% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Manhattan Co. raised its holdings in Bio-Rad Laboratories by 71.6% during the 3rd quarter. First Manhattan Co. now owns 599 shares of the medical research company’s stock valued at $133,000 after buying an additional 250 shares during the period. Meeder Asset Management Inc. raised its holdings in Bio-Rad Laboratories by 3,333.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 618 shares of the medical research company’s stock valued at $137,000 after buying an additional 600 shares during the period. Advisor Group Inc. raised its holdings in Bio-Rad Laboratories by 17.8% during the 2nd quarter. Advisor Group Inc. now owns 952 shares of the medical research company’s stock valued at $216,000 after buying an additional 144 shares during the period. Timber Hill LLC purchased a new stake in Bio-Rad Laboratories during the 3rd quarter valued at $214,000. Finally, Flinton Capital Management LLC raised its holdings in Bio-Rad Laboratories by 70.0% during the 2nd quarter. Flinton Capital Management LLC now owns 1,088 shares of the medical research company’s stock valued at $246,000 after buying an additional 448 shares during the period. Hedge funds and other institutional investors own 63.92% of the company’s stock.

Bio-Rad Laboratories (NYSE BIO) opened at $261.89 on Monday. Bio-Rad Laboratories has a 52 week low of $184.54 and a 52 week high of $273.87. The company has a quick ratio of 2.77, a current ratio of 4.06 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $9,110.00, a P/E ratio of 327.36, a price-to-earnings-growth ratio of 2.04 and a beta of 0.97.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, November 2nd. The medical research company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.37. The business had revenue of $535.00 million during the quarter, compared to the consensus estimate of $507.99 million. Bio-Rad Laboratories had a return on equity of 3.44% and a net margin of 1.15%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. equities analysts anticipate that Bio-Rad Laboratories will post 2.69 earnings per share for the current fiscal year.

Bio-Rad Laboratories declared that its board has approved a share repurchase plan on Tuesday, November 28th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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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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