Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 488,600 shares, a decline of 6.8% from the November 15th total of 524,400 shares. Based on an average daily volume of 284,500 shares, the short-interest ratio is currently 1.7 days. Currently, 2.6% of the shares of the company are short sold.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Advisors Ltd. LLC raised its holdings in shares of Bio-Rad Laboratories by 193.8% during the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company's stock worth $26,000 after acquiring an additional 62 shares during the period. UMB Bank n.a. boosted its holdings in shares of Bio-Rad Laboratories by 140.6% during the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company's stock worth $26,000 after buying an additional 45 shares during the period. Gladius Capital Management LP bought a new stake in shares of Bio-Rad Laboratories during the 3rd quarter worth about $32,000. Headlands Technologies LLC bought a new stake in Bio-Rad Laboratories in the 2nd quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd bought a new stake in Bio-Rad Laboratories in the 3rd quarter valued at about $55,000. 65.24% of the stock is owned by institutional investors.
Shares of NYSE BIO traded up $6.91 during mid-day trading on Monday, reaching $343.19. The company had a trading volume of 221,117 shares, compared to its average volume of 241,495. The stock has a market capitalization of $9.61 billion, a PE ratio of -12.30 and a beta of 0.90. Bio-Rad Laboratories has a twelve month low of $262.12 and a twelve month high of $387.99. The stock's 50 day moving average is $341.35 and its 200-day moving average is $321.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14.
Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company had revenue of $649.70 million during the quarter, compared to analysts' expectations of $628.18 million. During the same period in the prior year, the company earned $2.33 earnings per share. The business's quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Bio-Rad Laboratories will post 10.29 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the company. Citigroup increased their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their price objective on Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Wells Fargo & Company initiated coverage on Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an "equal weight" rating and a $340.00 target price on the stock. Finally, StockNews.com upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $394.20.
Check Out Our Latest Stock Analysis on BIO
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.
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