Jefferies Financial Group Reaffirms “Buy” Rating for Bio-Rad Laboratories (BIO)

Bio-Rad Laboratories (NYSE:BIO)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Financial Group in a research note issued on Monday. They currently have a $420.00 target price on the medical research company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 35.30% from the company’s previous close.

The analysts wrote, “We see substantial hidden value in BIO’s droplet digital PCR (ddPCR) franchise that is under-appreciated by investors.””

A number of other equities research analysts have also recently commented on BIO. Zacks Investment Research upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating and set a $334.00 price target for the company in a research note on Monday, June 25th. Barclays began coverage on Bio-Rad Laboratories in a research note on Wednesday, September 5th. They issued an “equal weight” rating and a $345.00 price target for the company. Finally, Morgan Stanley began coverage on Bio-Rad Laboratories in a research note on Thursday, September 20th. They issued an “equal weight” rating and a $335.00 price target for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $341.50.

Shares of NYSE BIO opened at $310.41 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.50 and a quick ratio of 3.17. The firm has a market cap of $8.91 billion, a P/E ratio of 75.36, a P/E/G ratio of 3.12 and a beta of 0.95. Bio-Rad Laboratories has a 1-year low of $214.44 and a 1-year high of $345.15.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Tuesday, August 7th. The medical research company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.37. The firm had revenue of $575.91 million during 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 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Royal London Asset Management Ltd. acquired a new position in shares of Bio-Rad Laboratories in the second quarter valued at about $3,377,000. Public Employees Retirement System of Ohio increased its holdings in shares of Bio-Rad Laboratories by 1.8% in the second quarter. Public Employees Retirement System of Ohio now owns 13,631 shares of the medical research company’s stock valued at $3,933,000 after purchasing an additional 246 shares during the period. California Public Employees Retirement System increased its holdings in shares of Bio-Rad Laboratories by 2.8% in the second quarter. California Public Employees Retirement System now owns 53,249 shares of the medical research company’s stock valued at $15,364,000 after purchasing an additional 1,450 shares during the period. Marshall Wace LLP acquired a new position in shares of Bio-Rad Laboratories in the second quarter valued at about $898,000. Finally, Paloma Partners Management Co increased its holdings in shares of Bio-Rad Laboratories by 233.6% in the second quarter. Paloma Partners Management Co now owns 9,080 shares of the medical research company’s stock valued at $2,620,000 after purchasing an additional 6,358 shares during the period. 63.18% of the stock is currently owned by institutional investors and hedge funds.

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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