Bio-Rad Laboratories (NYSE:BIO) Reaches New 12-Month Low – What’s Next?

Bio-Rad Laboratories, Inc. (NYSE:BIO) shares reached a new 52-week low on Monday . The stock traded as low as $215.38 and last traded at $217.55, with a volume of 21241 shares changing hands. The stock had previously closed at $225.60.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Finally, Wells Fargo & Company dropped their target price on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $395.20.

Bio-Rad Laboratories Price Performance

The firm has a 50 day moving average price of $281.98 and a 200 day moving average price of $319.24. The stock has a market cap of $6.34 billion, a P/E ratio of -3.48 and a beta of 1.12. The company has a quick ratio of 4.85, a current ratio of 6.48 and a debt-to-equity ratio of 0.18.

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 for the quarter, topping analysts’ consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 71.86% and a positive return on equity of 3.90%. On average, analysts forecast that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Bio-Rad Laboratories

Hedge funds have recently made changes to their positions in the business. Strategic Financial Concepts LLC purchased a new position in Bio-Rad Laboratories in the 4th quarter worth approximately $3,561,000. Lecap Asset Management Ltd. purchased a new position in shares of Bio-Rad Laboratories in the fourth quarter worth $510,000. Verition Fund Management LLC lifted its holdings in shares of Bio-Rad Laboratories by 193.3% in the third quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock worth $1,161,000 after buying an additional 2,287 shares in the last quarter. Diversified Trust Co bought a new position in shares of Bio-Rad Laboratories during the fourth quarter worth $958,000. Finally, DAVENPORT & Co LLC grew its stake in Bio-Rad Laboratories by 48.8% during the fourth quarter. DAVENPORT & Co LLC now owns 84,677 shares of the medical research company’s stock valued at $27,817,000 after acquiring an additional 27,780 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

About Bio-Rad Laboratories

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.