StockNews.com Upgrades Bio-Rad Laboratories (NYSE:BIO) to “Buy”

by · The Markets Daily

Bio-Rad Laboratories (NYSE:BIO – Get Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also recently issued reports on BIO. Citigroup boosted their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 target price for the company. Finally, Royal Bank of Canada boosted their target price on shares of Bio-Rad Laboratories from $446.00 to $469.00 and gave the company an “outperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $391.80.

Get Our Latest Report on BIO

Bio-Rad Laboratories Stock Up 2.9 %

BIO traded up $10.23 during trading on Friday, reaching $368.42. 284,333 shares of the stock were exchanged, compared to its average volume of 249,020. The stock has a market cap of $10.27 billion, a P/E ratio of -13.48 and a beta of 0.95. Bio-Rad Laboratories has a twelve month low of $262.12 and a twelve month high of $372.27. The stock’s 50 day moving average price is $333.99 and its two-hundred day moving average price is $308.47. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.63 and a current ratio of 6.28.

Bio-Rad Laboratories (NYSE:BIO – Get Free Report) last issued its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.73. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.66%. The business had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. During the same period in the previous year, the company earned $2.33 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts expect that Bio-Rad Laboratories will post 9.45 EPS for the current year.

Insider Activity

In related news, EVP James Barry sold 623 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total value of $205,895.27. Following the sale, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Andrew J. Last sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the sale, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Barry sold 623 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the sale, the executive vice president now owns 147 shares in the company, valued at $48,582.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in shares of Bio-Rad Laboratories by 140.6% in the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after purchasing an additional 45 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Bio-Rad Laboratories by 193.8% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 62 shares during the period. EntryPoint Capital LLC bought a new stake in Bio-Rad Laboratories in the 1st quarter valued at about $51,000. Headlands Technologies LLC bought a new stake in Bio-Rad Laboratories in the 2nd quarter valued at about $51,000. Finally, Quarry LP purchased a new position in Bio-Rad Laboratories during the 2nd quarter valued at about $59,000. 65.24% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Company Profile

(Get Free Report)

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.

Read More