The stock of Bio-Rad Laboratories, Inc. (NYSE:BIO) hit a new 52-week high and has $279.84 target or 66.00% above today’s $168.58 share price. The 7 months bullish chart indicates low risk for the $5.18B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $279.84 price target is reached, the company will be worth $3.42 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 2.29% or $3.78 on November 7, hitting $168.58. About 112,843 shares traded hands. Bio-Rad Laboratories, Inc. (NYSE:BIO) has risen 22.00% since April 5, 2016 and is uptrending. It has outperformed by 20.05% the S&P500.
Bio-Rad Laboratories, Inc. (NYSE:BIO) Ratings Coverage
Out of 2 analysts covering Bio-Rad Laboratories (NYSE:BIO), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $225 is the highest target while $143 is the lowest. The $187 average target is 10.93% above today’s ($168.58) stock price. Bio-Rad Laboratories has been the topic of 5 analyst reports since August 7, 2015 according to StockzIntelligence Inc. CL King initiated the shares of BIO in a report on Thursday, October 13 with “Buy” rating. The stock of Bio-Rad Laboratories, Inc. (NYSE:BIO) has “Buy” rating given on Wednesday, September 7 by Jefferies.
According to Zacks Investment Research, “Bio-Rad Laboratories, Inc., together with its subsidiaries, engages in the manufacture and supply of products and systems for the life science research, healthcare, analytical chemistry, and other markets worldwide. The company’s products are used to separate complex chemical and biological materials, and to identify, analyze, and purify their components. It operates in two segments, Life Science and Clinical Diagnostics. The Life Science segment offers electrophoresis, image analysis, molecular detection, chromatography, gene transfer, sample preparation, and amplification products and services. The Clinical Diagnostics segment provides control, autoimmune, diabetes, and blood virus testing products. Bio-Rad is renowned worldwide among hospitals, universities, major research institutions, as well as biotechnology and pharmaceutical companies for its commitment to quality and customer service. The company is headquartered in Hercules, California.”
Insitutional Activity: The institutional sentiment decreased to 1.07 in Q2 2016. Its down 0.11, from 1.18 in 2016Q1. The ratio dived, as 20 funds sold all Bio-Rad Laboratories, Inc. shares owned while 71 reduced positions. 18 funds bought stakes while 79 increased positions. They now own 17.57 million shares or 3.51% less from 18.21 million shares in 2016Q1.
The California-based Fdx Advsrs Incorporated has invested 0.03% in Bio-Rad Laboratories, Inc. (NYSE:BIO). First Quadrant Ltd Partnership Ca accumulated 0.1% or 32,000 shares. The Georgia-based Earnest Prns Limited Liability Company has invested 0.21% in Bio-Rad Laboratories, Inc. (NYSE:BIO). Ahl Partners Llp has 3,014 shares for 0.02% of their US portfolio. Aperio Group Inc Ltd Llc, a California-based fund reported 13,530 shares. Pnc Services Group last reported 5,703 shares in the company. New York State Common Retirement Fund last reported 49,500 shares in the company. Meeder Asset Mgmt holds 1,855 shares or 0.02% of its portfolio. New York State Teachers Retirement System last reported 0.01% of its portfolio in the stock. Voya Inv Management Lc has 0% invested in the company for 6,804 shares. Manufacturers Life Ins Communications The, a Ontario – Canada-based fund reported 282,779 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO). The New York-based Ibm Retirement Fund has invested 0.01% in Bio-Rad Laboratories, Inc. (NYSE:BIO). Nwq Investment Management Com Ltd Liability Corp has 503,466 shares for 1.24% of their US portfolio. The Minnesota-based Advantus Mngmt Incorporated has invested 0.01% in Bio-Rad Laboratories, Inc. (NYSE:BIO).
Insider Transactions: Since June 10, 2016, the stock had 0 insider buys, and 13 sales for $2.25 million net activity. Shares for $67,898 were sold by Magni Giovanni. $14,543 worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) was sold by Hall Shannon on Monday, September 12. $1.03M worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) was sold by SCHWARTZ ALICE N. STARK JAMES R also sold $41,699 worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) shares. $102,357 worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) was sold by Crowley Michael. HERTIA JOHN sold 3,417 shares worth $539,250.
BIO Company Profile
Bio-Rad Laboratories, Inc. (Bio-Rad), incorporated on March 10, 1975, is a maker and distributor of life science research and clinical diagnostics products. The Firm makes and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components. Bio-Rad operates in two divisions: Life Science and Clinical Diagnostics. The Company’s Life Science segment develops, makes, sells and services reagents, apparatus and instruments used for biological research. The Company’s Clinical Diagnostics segment develops, makes, sells and services automated test systems, informatics systems, test kits and specialized quality controls for the healthcare market. Bio-Rad sells over 8,000 services and products to a client base consisting of scientific research, healthcare, education and government clients around the world.
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