StockNews.com Downgrades Bio-Rad Laboratories (NYSE:BIO) to Hold

Bio-Rad Laboratories (NYSE:BIO) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other equities research analysts have also commented on the company. Royal Bank of Canada decreased their price target on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $400.00 to $365.00 in a research report on Wednesday. Finally, UBS Group increased their price target on Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $468.00.

Bio-Rad Laboratories Trading Up 0.5 %

BIO stock opened at $324.59 on Friday. Bio-Rad Laboratories has a 1-year low of $261.59 and a 1-year high of $494.05. The firm has a market cap of $9.26 billion, a P/E ratio of -15.10 and a beta of 0.87. The business’s 50 day moving average is $333.84 and its 200-day moving average is $323.46. The company has a current ratio of 5.83, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.17. The business had revenue of $681.18 million for the quarter, compared to analyst estimates of $685.00 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. Bio-Rad Laboratories’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.31 EPS. Equities analysts anticipate that Bio-Rad Laboratories will post 10.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Crowley sold 3,000 shares of Bio-Rad Laboratories stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total value of $1,008,000.00. Following the sale, the executive vice president now owns 6,942 shares of the company’s stock, valued at $2,332,512. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bio-Rad Laboratories

Institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in Bio-Rad Laboratories during the fourth quarter worth approximately $27,000. Farther Finance Advisors LLC increased its position in Bio-Rad Laboratories by 42.3% during the second quarter. Farther Finance Advisors LLC now owns 101 shares of the medical research company’s stock worth $38,000 after buying an additional 30 shares during the last quarter. Gladius Capital Management LP grew its position in shares of Bio-Rad Laboratories by 65.8% in the fourth quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 48 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $41,000. Finally, GAMMA Investing LLC acquired a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Company Profile

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.