Bio-Rad Laboratories (NYSE:BIO – Get Rating) had its price target lowered by Citigroup from $750.00 to $700.00 in a note issued to investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Citigroup’s price target suggests a potential upside of 35.37% from the company’s current price.
A number of other brokerages have also recently weighed in on BIO. Jefferies Financial Group reissued a “buy” rating and set a $700.00 price objective on shares of Bio-Rad Laboratories in a research note on Friday, April 29th. TheStreet cut shares of Bio-Rad Laboratories from a “b-” rating to a “c+” rating in a research note on Thursday, April 28th. Finally, StockNews.com initiated coverage on shares of Bio-Rad Laboratories in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $776.67.
Shares of BIO opened at $517.12 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.10 and a quick ratio of 4.16. The firm has a 50 day simple moving average of $506.29 and a 200-day simple moving average of $568.84. Bio-Rad Laboratories has a 1-year low of $462.61 and a 1-year high of $832.70. The stock has a market cap of $15.48 billion, a price-to-earnings ratio of -105.97 and a beta of 0.93.
Bio-Rad Laboratories (NYSE:BIO – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The medical research company reported $4.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $2.14. Bio-Rad Laboratories had a negative net margin of 3.49% and a positive return on equity of 3.66%. The business had revenue of $700.10 million during the quarter, compared to analysts’ expectations of $678.00 million. During the same period last year, the company posted $5.21 EPS. The company’s revenue was down 3.7% on a year-over-year basis. On average, equities analysts expect that Bio-Rad Laboratories will post 14.2 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Spire Wealth Management grew its stake in 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 acquiring an additional 25 shares during the period. HM Payson & Co. purchased a new stake in Bio-Rad Laboratories in the 1st quarter worth approximately $28,000. Cambridge Trust Co. boosted its holdings in shares of Bio-Rad Laboratories by 170.0% in the 1st quarter. Cambridge Trust Co. now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 34 shares during the last quarter. Sageworth Trust Co of South Dakota acquired a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at $43,000. Finally, Tcwp LLC acquired a new position in shares of Bio-Rad Laboratories in the 1st quarter valued at $48,000. 63.66% of the stock is owned by hedge funds and other institutional investors.
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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Source: defenseworld.net
