Bio-Rad Laboratories, Inc. (NYSE:BIO) has earned an average broker rating score of 2.00 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company.
Brokers have set a 1-year consensus target price of $238.33 for the company and are forecasting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also given Bio-Rad Laboratories an industry rank of 155 out of 265 based on the ratings given to related companies.
A number of equities analysts recently weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $250.00 price target on shares of Bio-Rad Laboratories in a research report on Thursday, April 27th. Zacks Investment Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research report on Monday, March 27th.
Bio-Rad Laboratories (NYSE:BIO) traded down 1.08% on Tuesday, reaching $219.22. 131,809 shares of the company’s stock were exchanged. The stock has a market capitalization of $6.49 billion, a P/E ratio of 232.72 and a beta of 0.89. Bio-Rad Laboratories has a 1-year low of $135.94 and a 1-year high of $224.24. The firm’s 50 day moving average is $212.77 and its 200 day moving average is $192.32.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, May 4th. The medical research company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.14. Bio-Rad Laboratories had a return on equity of 3.79% and a net margin of 4.75%. The business had revenue of $500.05 million during the quarter, compared to analyst estimates of $477.76 million. During the same quarter last year, the company posted $0.42 EPS. Bio-Rad Laboratories’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts expect that Bio-Rad Laboratories will post $2.85 EPS for the current year.
In other Bio-Rad Laboratories news, EVP Michael Crowley sold 300 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $196.13, for a total transaction of $58,839.00. Following the completion of the sale, the executive vice president now directly owns 2,760 shares in the company, valued at approximately $541,318.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 28.38% of the company’s stock.
Large investors have recently made changes to their positions in the company. FMR LLC acquired a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth approximately $30,186,000. Russell Investments Group Ltd. acquired a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth approximately $36,844,000. Northern Trust Corp raised its stake in shares of Bio-Rad Laboratories by 0.5% in the third quarter. Northern Trust Corp now owns 241,127 shares of the medical research company’s stock worth $39,499,000 after buying an additional 1,297 shares during the last quarter. Elkfork Partners LLC acquired a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth approximately $211,000. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Bio-Rad Laboratories by 23.8% in the first quarter. Parametric Portfolio Associates LLC now owns 90,855 shares of the medical research company’s stock worth $18,111,000 after buying an additional 17,492 shares during the last quarter. Hedge funds and other institutional investors own 64.29% of the company’s stock.
About Bio-Rad Laboratories
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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