Wells Fargo & Company Cuts Bio-Rad Laboratories (NYSE:BIO) Price Target to $345.00

Bio-Rad Laboratories (NYSE:BIO) had its target price lowered by stock analysts at Wells Fargo & Company from $360.00 to $345.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 10.58% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada restated an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a report on Tuesday, January 14th. Citigroup boosted their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $395.20.

Bio-Rad Laboratories Trading Down 0.9 %

Shares of BIO stock traded down $2.73 during trading hours on Wednesday, reaching $312.00. 44,214 shares of the stock traded hands, compared to its average volume of 155,233. Bio-Rad Laboratories has a 1-year low of $262.12 and a 1-year high of $387.99. The business has a fifty day moving average price of $340.56 and a 200 day moving average price of $336.91. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $8.74 billion, a PE ratio of -11.42 and a beta of 0.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its position in Bio-Rad Laboratories by 140.6% in the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after acquiring an additional 45 shares in the last quarter. Venturi Wealth Management LLC grew its position in Bio-Rad Laboratories by 2,175.0% in the fourth quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after acquiring an additional 87 shares in the last quarter. Gladius Capital Management LP bought a new stake in Bio-Rad Laboratories in the third quarter worth approximately $32,000. Picton Mahoney Asset Management grew its position in Bio-Rad Laboratories by 55.6% in the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock worth $32,000 after acquiring an additional 35 shares in the last quarter. Finally, Asset Planning Inc bought a new stake in Bio-Rad Laboratories in the fourth quarter worth approximately $33,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

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.