Wells Fargo & Company Has Lowered Expectations for Bio-Rad Laboratories (NYSE:BIO) Stock Price

Bio-Rad Laboratories (NYSE:BIO) had its price target decreased by equities researchers at Wells Fargo & Company from $360.00 to $345.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 13.27% from the company’s previous close.

Other analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $481.00 price objective on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $395.20.

Bio-Rad Laboratories Trading Down 2.5 %

NYSE:BIO opened at $304.57 on Wednesday. The stock has a fifty day simple moving average of $339.70 and a 200 day simple moving average of $336.52. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of -11.14 and a beta of 0.90. Bio-Rad Laboratories has a 1-year low of $262.12 and a 1-year high of $387.99. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, February 13th. The medical research company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. Sell-side analysts forecast that Bio-Rad Laboratories will post 10.33 earnings per share for the current year.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of hedge funds have recently modified their holdings of the stock. Metis Global Partners LLC increased its position in Bio-Rad Laboratories by 4.4% in the 4th quarter. Metis Global Partners LLC now owns 712 shares of the medical research company’s stock worth $234,000 after purchasing an additional 30 shares during the last quarter. Signaturefd LLC lifted its stake in Bio-Rad Laboratories by 13.2% in the fourth quarter. Signaturefd LLC now owns 265 shares of the medical research company’s stock valued at $87,000 after acquiring an additional 31 shares during the last quarter. Avior Wealth Management LLC grew its position in Bio-Rad Laboratories by 3.3% in the third quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock worth $334,000 after acquiring an additional 32 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Bio-Rad Laboratories by 41.6% during the 4th quarter. UMB Bank n.a. now owns 109 shares of the medical research company’s stock worth $36,000 after purchasing an additional 32 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Bio-Rad Laboratories by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 4,530 shares of the medical research company’s stock worth $1,488,000 after purchasing an additional 32 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.