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Bio-Rad Laboratories (NYSE:BIO) Price Target Lowered to $700.00 at Citigroup – MarketBeat

Written by Amanda

Bio-Rad Laboratories (NYSE:BIOGet Rating) had its price target lowered by investment analysts at Citigroup from $750.00 to $700.00 in a report released on Friday, The Fly reports. Citigroup’s price target would suggest a potential upside of 36.57% from the company’s current price.

A number of other brokerages have also weighed in on BIO. TheStreet lowered shares of Bio-Rad Laboratories from a “b-” rating to a “c+” rating in a research note on Thursday, April 28th. StockNews.com assumed coverage on Bio-Rad Laboratories in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Jefferies Financial Group restated a “buy” rating and issued a $700.00 price objective on shares of Bio-Rad Laboratories in a research note on Friday, April 29th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $776.67.

Shares of BIO opened at $512.54 on Friday. The firm has a market cap of $15.35 billion, a PE ratio of -105.03 and a beta of 0.93. The company has a current ratio of 5.10, a quick ratio of 4.16 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $506.19 and a two-hundred day simple moving average of $571.60. Bio-Rad Laboratories has a 1-year low of $462.61 and a 1-year high of $832.70.

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Bio-Rad Laboratories (NYSE:BIOGet Rating) last announced its earnings results on Thursday, April 28th. The medical research company reported $4.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $2.14. The business had revenue of $700.10 million during the quarter, compared to analyst estimates of $678.00 million. Bio-Rad Laboratories had a negative net margin of 3.49% and a positive return on equity of 3.66%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.21 EPS. As a group, research analysts forecast that Bio-Rad Laboratories will post 14.2 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Spire Wealth Management increased its stake in shares of Bio-Rad Laboratories by 312.5% in the 4th quarter. Spire Wealth Management now owns 33 shares of the medical research company’s stock worth $25,000 after purchasing an additional 25 shares in the last quarter. HM Payson & Co. bought a new position in Bio-Rad Laboratories in the 1st quarter worth $28,000. Cambridge Trust Co. boosted its holdings in Bio-Rad Laboratories by 170.0% in the 1st quarter. Cambridge Trust Co. now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 34 shares during the period. Sageworth Trust Co of South Dakota bought a new position in Bio-Rad Laboratories in the 4th quarter worth $43,000. Finally, Covestor Ltd bought a new position in Bio-Rad Laboratories in the 4th quarter worth $59,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Bio-Rad Laboratories Company Profile (Get Rating)

Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai