The stock of Bio-Rad Laboratories, Inc. (NYSE:BIO) hit a new 52-week high and has $184.71 target or 6.00% above today’s $174.25 share price. The 9 months bullish chart indicates low risk for the $5.09 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $184.71 price target is reached, the company will be worth $305.40 million 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. About 154,171 shares traded hands. Bio-Rad Laboratories, Inc. (NYSE:BIO) has risen 21.36% since April 28, 2016 and is uptrending. It has outperformed by 15.44% the S&P500.
Analysts await Bio-Rad Laboratories, Inc. (NYSE:BIO) to report earnings on February, 23. They expect $0.93 EPS, down 44.64% or $0.75 from last year’s $1.68 per share. BIO’s profit will be $27.17 million for 46.84 P/E if the $0.93 EPS becomes a reality. After $0.62 actual EPS reported by Bio-Rad Laboratories, Inc. for the previous quarter, Wall Street now forecasts 50.00% EPS growth.
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 7.32% above today’s ($174.25) stock price. Bio-Rad Laboratories has been the topic of 5 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The rating was initiated by CL King on Thursday, October 13 with “Buy”. The firm earned “Buy” rating 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 increased to 1.08 in 2016 Q2. Its up 0.01, from 1.07 in 2016Q1. The ratio improved, 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.
Bokf Na has 0.01% invested in the company for 2,238 shares. Signaturefd Ltd Liability accumulated 20 shares or 0% of the stock. Aqr Capital Ltd Llc reported 89,427 shares or 0.02% of all its holdings. Rhumbline Advisers last reported 39,601 shares in the company. Teacher Retirement System Of Texas holds 0.01% or 13,766 shares in its portfolio. Moreover, Nationwide Fund has 0.06% invested in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 100,945 shares. Parametrica last reported 2,669 shares in the company. Sector Gamma As last reported 129,124 shares in the company. Huntington Bankshares holds 2,386 shares or 0.01% of its portfolio. Citadel Advisors Ltd Co holds 0% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 20,196 shares. Teachers, a New York-based fund reported 22,170 shares. Credit Suisse Ag accumulated 232,758 shares or 0.04% of the stock. Tower Rech Capital Llc (Trc) holds 46 shares or 0% of its portfolio. State Of Wisconsin Invest Board last reported 13,550 shares in the company. Wells Fargo And Com Mn, a California-based fund reported 543,159 shares.
Insider Transactions: Since June 10, 2016, the stock had 0 insider buys, and 19 insider sales for $2.57 million net activity. Shares for $14,575 were sold by Crowley Michael. Magni Giovanni sold $67,898 worth of stock. Hall Shannon sold $64,177 worth of stock or 414 shares. The insider STARK JAMES R sold 1,299 shares worth $222,675. $37,596 worth of Bio-Rad Laboratories, Inc. (NYSE:BIO) shares were sold by HERTIA JOHN. Shares for $1.03 million were sold by SCHWARTZ ALICE N.
More news for Bio-Rad Laboratories, Inc. (NYSE:BIO) were recently published by: Law360.com, which released: “Bio-Rad Says Ex-GC Faked FCPA Concerns To Save Job” on November 24, 2016. Businesswire.com‘s article titled: “Microbiome MDx specialist Genetic Analysis and Bio-Rad Sign Agreement” and published on November 28, 2016 is yet another important article.
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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