Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have earned an average rating of “Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $366.00.
BIO has been the topic of several research analyst reports. Deutsche Bank increased their price target on shares of Bio-Rad Laboratories from $330.00 to $350.00 and gave the company a “buy” rating in a report on Friday, March 1st. ValuEngine raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Zacks Investment Research cut shares of Bio-Rad Laboratories from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Barclays raised their target price on shares of Bio-Rad Laboratories from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th.
Bio-Rad Laboratories stock opened at $294.35 on Friday. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 50.40, a P/E/G ratio of 2.77 and a beta of 1.23. The company has a current ratio of 4.57, a quick ratio of 3.24 and a debt-to-equity ratio of 0.13. Bio-Rad Laboratories has a twelve month low of $220.05 and a twelve month high of $345.15.
In other news, EVP Timothy S. Ernst sold 345 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $290.00, for a total transaction of $100,050.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 27.84% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in shares of Bio-Rad Laboratories by 205.9% during the first quarter. Quadrant Capital Group LLC now owns 104 shares of the medical research company’s stock worth $29,000 after purchasing an additional 70 shares during the period. Financial Gravity Wealth Inc. acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $57,000. Enlightenment Research LLC acquired a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth approximately $70,000. Cresset Asset Management LLC acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $78,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $81,000. 64.30% of the stock is currently owned by institutional investors.
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.
Further Reading: Quick Ratio
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