Research analysts at CL King initiated coverage on shares of Bio-Rad Laboratories Inc. (NYSE:BIO) in a research report issued on Wednesday. The firm set a “buy” rating and a $180.00 price target on the stock. CL King’s target price would suggest a potential upside of 11.79% from the company’s previous close.
Several other research firms have also recently commented on BIO. Jefferies Group increased their price objective on Bio-Rad Laboratories from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 7th. Zacks Investment Research raised Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th.
Bio-Rad Laboratories (NYSE:BIO) opened at 161.01 on Wednesday. The company has a 50 day moving average of $158.55 and a 200 day moving average of $147.86. Bio-Rad Laboratories has a 52-week low of $122.03 and a 52-week high of $164.89. The company has a market capitalization of $4.74 billion, a PE ratio of 48.84 and a beta of 0.87.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $1.13 by $0.52. Bio-Rad Laboratories had a net margin of 4.79% and a return on equity of 3.86%. The business had revenue of $516.80 million for the quarter, compared to analysts’ expectations of $497.80 million. During the same period last year, the business earned $0.97 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Bio-Rad Laboratories will post $3.10 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Aperio Group LLC boosted its position in shares of Bio-Rad Laboratories by 10.0% in the first quarter. Aperio Group LLC now owns 8,629 shares of the company’s stock valued at $1,180,000 after buying an additional 783 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Bio-Rad Laboratories by 2.5% in the first quarter. TIAA CREF Investment Management LLC now owns 89,746 shares of the company’s stock worth $12,270,000 after buying an additional 2,182 shares during the last quarter. Teachers Advisors Inc. boosted its position in Bio-Rad Laboratories by 12.9% in the first quarter. Teachers Advisors Inc. now owns 20,147 shares of the company’s stock worth $2,754,000 after buying an additional 2,298 shares during the last quarter. BlackRock Inc. boosted its position in Bio-Rad Laboratories by 8.5% in the first quarter. BlackRock Inc. now owns 23,195 shares of the company’s stock worth $3,171,000 after buying an additional 1,821 shares during the last quarter. Finally, BlackRock Group LTD boosted its position in Bio-Rad Laboratories by 4.0% in the first quarter. BlackRock Group LTD now owns 82,018 shares of the company’s stock worth $11,212,000 after buying an additional 3,180 shares during the last quarter. 62.82% of the stock is currently owned by institutional investors and hedge funds.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of life science research and clinical diagnostics products. The Company 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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