Barclays Upgrades Bio-Rad Laboratories (BIO) to “Overweight”

Barclays upgraded shares of Bio-Rad Laboratories (NYSE:BIO) from an equal weight rating to an overweight rating in a research report sent to investors on Thursday, January 3rd, MarketBeat reports. The firm currently has $315.00 price target on the medical research company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group reiterated a buy rating and issued a $420.00 target price on shares of Bio-Rad Laboratories in a research note on Monday, September 24th. Goldman Sachs Group started coverage on shares of Bio-Rad Laboratories in a research note on Wednesday, October 17th. They issued a buy rating and a $350.00 target price for the company. Morgan Stanley started coverage on shares of Bio-Rad Laboratories in a research note on Thursday, September 20th. They issued an equal weight rating and a $335.00 target price for the company. Finally, Zacks Investment Research cut shares of Bio-Rad Laboratories from a hold rating to a strong sell rating in a research note on Monday, November 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $338.43.

BIO opened at $241.42 on Thursday. The firm has a market capitalization of $7.11 billion, a PE ratio of 58.88, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19. Bio-Rad Laboratories has a 12-month low of $220.05 and a 12-month high of $345.15. The company has a quick ratio of 3.16, a current ratio of 4.49 and a debt-to-equity ratio of 0.09.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, November 1st. The medical research company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.25). The business had revenue of $545.10 million for the quarter, compared to analyst estimates of $541.23 million. Bio-Rad Laboratories had a return on equity of 3.72% and a net margin of 55.13%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. Sell-side analysts anticipate that Bio-Rad Laboratories will post 5.47 EPS for the current fiscal year.

In other Bio-Rad Laboratories news, EVP Annette Tumolo sold 2,376 shares of Bio-Rad Laboratories stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $254.51, for a total transaction of $604,715.76. Following the completion of the sale, the executive vice president now owns 1,504 shares of the company’s stock, valued at approximately $382,783.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christine A. Tsingos sold 1,411 shares of Bio-Rad Laboratories stock in a transaction on Friday, December 14th. The stock was sold at an average price of $248.00, for a total transaction of $349,928.00. Following the sale, the chief financial officer now directly owns 6,683 shares of the company’s stock, valued at approximately $1,657,384. The disclosure for this sale can be found here. In the last three months, insiders sold 5,027 shares of company stock valued at $1,267,916. 27.99% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Bio-Rad Laboratories by 0.3% during the third quarter. BlackRock Inc. now owns 1,867,884 shares of the medical research company’s stock worth $584,627,000 after purchasing an additional 6,197 shares in the last quarter. Vanguard Group Inc. lifted its position in Bio-Rad Laboratories by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,832,968 shares of the medical research company’s stock valued at $573,701,000 after acquiring an additional 35,261 shares in the last quarter. Vanguard Group Inc lifted its position in Bio-Rad Laboratories by 2.0% in the 3rd quarter. Vanguard Group Inc now owns 1,832,968 shares of the medical research company’s stock valued at $573,701,000 after acquiring an additional 35,261 shares in the last quarter. Alliancebernstein L.P. lifted its position in Bio-Rad Laboratories by 4.2% in the 3rd quarter. Alliancebernstein L.P. now owns 268,138 shares of the medical research company’s stock valued at $83,925,000 after acquiring an additional 10,691 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its position in Bio-Rad Laboratories by 2,080.5% in the 3rd quarter. Federated Investors Inc. PA now owns 237,562 shares of the medical research company’s stock valued at $74,354,000 after acquiring an additional 226,667 shares in the last quarter. 62.36% 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.

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Analyst Recommendations for Bio-Rad Laboratories (NYSE:BIO)

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