Bio-Rad Laboratories (NYSE:BIO) Reaches New 52-Week High at $347.27

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) hit a new 52-week high during trading on Friday . The stock traded as high as $347.27 and last traded at $344.82, with a volume of 55740 shares trading hands. The stock had previously closed at $339.73.

Several brokerages recently commented on BIO. ValuEngine lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Barclays boosted their price target on Bio-Rad Laboratories from $350.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. They noted that the move was a valuation call. Finally, Goldman Sachs Group upgraded Bio-Rad Laboratories from a “buy” rating to a “conviction-buy” rating and set a $400.00 price objective for the company in a research report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $378.33.

The company has a 50-day simple moving average of $331.77 and a 200-day simple moving average of $311.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 4.68. The stock has a market cap of $10.06 billion, a P/E ratio of 59.01, a P/E/G ratio of 3.15 and a beta of 1.18.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, August 1st. The medical research company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.18. Bio-Rad Laboratories had a return on equity of 3.92% and a net margin of 39.32%. The firm had revenue of $572.60 million during the quarter, compared to the consensus estimate of $564.88 million. During the same quarter in the previous year, the company posted $1.64 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 7.15 earnings per share for the current fiscal year.

In other news, EVP Michael Crowley sold 1,089 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $333.08, for a total transaction of $362,724.12. Following the completion of the sale, the executive vice president now owns 2,011 shares in the company, valued at $669,823.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Timothy S. Ernst sold 310 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $320.00, for a total value of $99,200.00. Following the sale, the executive vice president now owns 3,100 shares of the company’s stock, valued at approximately $992,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,876 shares of company stock valued at $2,634,905. Corporate insiders own 27.84% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Motco bought a new stake in shares of Bio-Rad Laboratories during the second quarter worth $25,000. Berman Capital Advisors LLC bought a new stake in shares of Bio-Rad Laboratories during the second quarter worth $26,000. Capital Investment Advisory Services LLC bought a new stake in shares of Bio-Rad Laboratories during the second quarter worth $48,000. Advisory Services Network LLC raised its position in shares of Bio-Rad Laboratories by 64.9% during the second quarter. Advisory Services Network LLC now owns 160 shares of the medical research company’s stock worth $50,000 after acquiring an additional 63 shares during the last quarter. Finally, CSat Investment Advisory L.P. bought a new stake in shares of Bio-Rad Laboratories during the second quarter worth $132,000. Institutional investors own 62.13% of the company’s stock.

About Bio-Rad Laboratories (NYSE:BIO)

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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