Bio-Rad Laboratories (NYSE:BIO) had its price target boosted by equities research analysts at Citigroup from $525.00 to $625.00 in a research report issued on Friday, Marketbeat.com reports. The firm presently has a “buy” rating on the medical research company’s stock. Citigroup‘s price target would indicate a potential upside of 19.07% from the company’s current price.
Separately, Wells Fargo & Co reiterated a “buy” rating on shares of Bio-Rad Laboratories in a report on Thursday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $511.25.
Shares of NYSE:BIO opened at $524.89 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.40 and a quick ratio of 1.76. The stock has a market cap of $15.56 billion, a price-to-earnings ratio of 8.14 and a beta of 1.08. The company has a 50 day moving average of $474.38 and a 200-day moving average of $419.24. Bio-Rad Laboratories has a one year low of $307.39 and a one year high of $540.06.
Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, July 30th. The medical research company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.39. The firm had revenue of $536.88 million for the quarter, compared to analysts’ expectations of $526.80 million. Bio-Rad Laboratories had a net margin of 84.89% and a return on equity of 3.92%. Equities research analysts anticipate that Bio-Rad Laboratories will post 7.2 earnings per share for the current year.
In related news, EVP Michael Crowley sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $485.40, for a total value of $728,100.00. Following the completion of the transaction, the executive vice president now directly owns 2,310 shares in the company, valued at approximately $1,121,274. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ronald W. Hutton sold 443 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $457.35, for a total value of $202,606.05. The disclosure for this sale can be found here. Company insiders own 27.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV acquired a new stake in Bio-Rad Laboratories in the 2nd quarter worth about $39,000. Harbor Investment Advisory LLC bought a new stake in shares of Bio-Rad Laboratories in the first quarter valued at approximately $32,000. CSat Investment Advisory L.P. boosted its stake in shares of Bio-Rad Laboratories by 20.2% in the first quarter. CSat Investment Advisory L.P. now owns 137 shares of the medical research company’s stock valued at $48,000 after buying an additional 23 shares during the period. Global Retirement Partners LLC grew its position in Bio-Rad Laboratories by 26.4% during the first quarter. Global Retirement Partners LLC now owns 139 shares of the medical research company’s stock worth $49,000 after buying an additional 29 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Bio-Rad Laboratories by 183.6% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 156 shares of the medical research company’s stock worth $54,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 62.89% of the company’s stock.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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