Bio-Rad Laboratories (NYSE:BIO) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Bio-Rad Laboratories (NYSE:BIO) from a buy rating to a hold rating in a report published on Monday morning.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Wells Fargo & Company reduced their price objective on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Finally, Citigroup upped their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Bio-Rad Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $395.20.

Bio-Rad Laboratories Stock Up 0.3 %

Shares of Bio-Rad Laboratories stock opened at $284.05 on Monday. The stock’s 50-day moving average is $335.06 and its 200 day moving average is $334.95. Bio-Rad Laboratories has a one year low of $262.12 and a one year high of $387.99. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of -4.37 and a beta of 0.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.48 and a quick ratio of 4.85.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. Equities research analysts anticipate that Bio-Rad Laboratories will post 11.57 EPS for the current year.

Institutional Trading of Bio-Rad Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealthfront Advisers LLC purchased a new stake in Bio-Rad Laboratories in the fourth quarter worth about $342,686,000. Van ECK Associates Corp lifted its position in Bio-Rad Laboratories by 97.8% during the third quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock valued at $436,861,000 after buying an additional 644,530 shares during the period. Bank of America Corp DE lifted its position in Bio-Rad Laboratories by 705.9% during the fourth quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company’s stock valued at $140,370,000 after buying an additional 374,269 shares during the period. Point72 Asset Management L.P. purchased a new position in Bio-Rad Laboratories during the 3rd quarter valued at about $83,681,000. Finally, Ariel Investments LLC lifted its position in Bio-Rad Laboratories by 48.0% during the 4th quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company’s stock valued at $184,138,000 after acquiring an additional 181,829 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.