Bio-Rad Laboratories, Inc. (NYSE:BIO) has been given a consensus recommendation of “Buy” by the ten brokerages that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $339.17.
A number of research analysts have recently commented on the company. Barclays assumed coverage on Bio-Rad Laboratories in a research note on Wednesday, September 5th. They issued an “equal weight” rating and a $345.00 target price for the company. Zacks Investment Research cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Jefferies Financial Group raised their target price on Bio-Rad Laboratories from $325.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. Morgan Stanley assumed coverage on Bio-Rad Laboratories in a research note on Thursday, September 20th. They issued an “equal weight” rating and a $335.00 target price for the company. Finally, Goldman Sachs Group assumed coverage on Bio-Rad Laboratories in a research note on Wednesday, October 17th. They issued a “buy” rating and a $350.00 target price for the company.
Hedge funds have recently bought and sold shares of the stock. Security National Trust Co. bought a new position in Bio-Rad Laboratories during the 3rd quarter valued at approximately $125,000. Boussard & Gavaudan Investment Management LLP bought a new position in Bio-Rad Laboratories during the 3rd quarter valued at approximately $202,000. Regentatlantic Capital LLC bought a new position in Bio-Rad Laboratories during the 3rd quarter valued at approximately $222,000. Raymond James Trust N.A. bought a new position in Bio-Rad Laboratories during the 2nd quarter valued at approximately $212,000. Finally, World Asset Management Inc bought a new position in Bio-Rad Laboratories during the 2nd quarter valued at approximately $213,000. 63.26% of the stock is owned by institutional investors.
BIO opened at $269.77 on Wednesday. The company has a market capitalization of $8.14 billion, a PE ratio of 65.80, a PEG ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.50 and a quick ratio of 3.17. Bio-Rad Laboratories has a 52 week low of $231.00 and a 52 week high of $345.15.
Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, November 1st. The medical research company reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.25). The firm had revenue of $545.10 million during the quarter, compared to analysts’ expectations of $541.23 million. Bio-Rad Laboratories had a net margin of 44.77% and a return on equity of 4.23%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. As a group, research analysts expect that Bio-Rad Laboratories will post 6.38 earnings per share for the current fiscal year.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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