CL King initiated coverage on shares of Bio-Rad Laboratories Inc. (NYSE:BIO) in a research note released on Wednesday, The Fly reports. The brokerage issued a buy rating on the stock.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Bio-Rad Laboratories from a sell rating to a hold rating in a research note on Wednesday, July 6th. Jefferies Group raised their price target on shares of Bio-Rad Laboratories from $200.00 to $225.00 and gave the company a buy rating in a research note on Wednesday, September 7th.
Shares of Bio-Rad Laboratories (NYSE:BIO) traded down 0.419% during trading on Wednesday, reaching $160.385. 4,895 shares of the company traded hands. The company has a 50-day moving average of $158.25 and a 200-day moving average of $147.76. Bio-Rad Laboratories has a 12 month low of $122.03 and a 12 month high of $164.89. The stock has a market capitalization of $4.72 billion, a PE ratio of 48.646 and a beta of 0.87.
Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by $0.52. The company earned $516.80 million during the quarter, compared to the consensus estimate of $497.80 million. Bio-Rad Laboratories had a net margin of 4.79% and a return on equity of 3.86%. Bio-Rad Laboratories’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. Analysts forecast that Bio-Rad Laboratories will post $3.10 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its stake in 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 in the last quarter. TIAA CREF Investment Management LLC increased 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 in the last quarter. Teachers Advisors Inc. increased 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 in the last quarter. BlackRock Inc. increased 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 in the last quarter. Finally, BlackRock Group LTD increased 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 in the last quarter. Institutional investors own 62.82% of the company’s stock.
Bio-Rad Laboratories Company Profile
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.