Morgan Stanley began coverage on shares of Bio-Rad Laboratories (NYSE:BIO) in a research report sent to investors on Thursday, September 20th, Marketbeat reports. The firm issued an equal weight rating and a $335.00 price target on the medical research company’s stock.
BIO has been the topic of a number of other research reports. Zacks Investment Research cut Bio-Rad Laboratories from a buy rating to a hold rating in a report on Monday, August 13th. Barclays assumed coverage on Bio-Rad Laboratories in a report on Wednesday, September 5th. They issued an equal weight rating and a $345.00 price target on the stock. Finally, Jefferies Financial Group upped their price target on Bio-Rad Laboratories from $325.00 to $355.00 and gave the stock a buy rating in a report on Wednesday, August 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $341.50.
NYSE BIO traded up $6.37 on Thursday, hitting $281.68. 165,569 shares of the company’s stock were exchanged, compared to its average volume of 150,268. The company has a current ratio of 4.50, a quick ratio of 3.17 and a debt-to-equity ratio of 0.09. Bio-Rad Laboratories has a fifty-two week low of $214.44 and a fifty-two week high of $345.15. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 68.70, a PEG ratio of 3.27 and a beta of 0.96.
Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Tuesday, August 7th. The medical research company reported $1.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.37. The company had revenue of $575.91 million for the quarter, compared to analysts’ expectations of $551.05 million. Bio-Rad Laboratories had a return on equity of 4.23% and a net margin of 44.77%. Equities analysts forecast that Bio-Rad Laboratories will post 6.38 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Bio-Rad Laboratories by 3.1% during the 1st quarter. BlackRock Inc. now owns 1,831,222 shares of the medical research company’s stock worth $457,952,000 after purchasing an additional 54,512 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Bio-Rad Laboratories by 3,349.1% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,897 shares of the medical research company’s stock worth $547,000 after purchasing an additional 1,842 shares during the period. Asymmetry Capital Management L.P. lifted its stake in shares of Bio-Rad Laboratories by 31.2% during the 2nd quarter. Asymmetry Capital Management L.P. now owns 5,918 shares of the medical research company’s stock worth $1,708,000 after purchasing an additional 1,407 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Bio-Rad Laboratories by 4.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 128,387 shares of the medical research company’s stock worth $32,108,000 after purchasing an additional 5,533 shares during the period. Finally, American International Group Inc. lifted its stake in shares of Bio-Rad Laboratories by 0.8% during the 2nd quarter. American International Group Inc. now owns 40,782 shares of the medical research company’s stock worth $11,767,000 after purchasing an additional 326 shares during the period. 63.22% of the stock is currently owned by institutional investors.
About Bio-Rad Laboratories
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.
Featured Story: How to Use a Moving Average for Trading
Receive News & Ratings for Bio-Rad Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.