What’s Propelling Bio-Rad Laboratories, Inc. (BIO) to Reach 52-Week High?

June 12, 2018 - By Nellie Frank

Bio-Rad Laboratories, Inc. (NYSE:BIO) Logo

Investors sentiment decreased to 1.03 in Q1 2018. Its down 0.10, from 1.13 in 2017Q4. It dropped, as 18 investors sold Bio-Rad Laboratories, Inc. shares while 101 reduced holdings. 42 funds opened positions while 81 raised stakes. 18.53 million shares or 0.19% less from 18.57 million shares in 2017Q4 were reported.
Advantus Mngmt reported 2,527 shares or 0.02% of all its holdings. Timessquare Capital Management Limited Liability Company invested in 0.99% or 581,022 shares. Cohen Cap Management Incorporated stated it has 900 shares. United Asset Strategies has 1,425 shares for 0.1% of their portfolio. Sivik Glob Healthcare Lc holds 1.75% or 15,000 shares in its portfolio. Art Ltd Liability Com has invested 0.04% in Bio-Rad Laboratories, Inc. (NYSE:BIO). Ameritas Inv stated it has 6,027 shares or 0.07% of all its holdings. Riverhead Cap Ltd has 0.02% invested in Bio-Rad Laboratories, Inc. (NYSE:BIO). Metropolitan Life Insur holds 5,856 shares or 0% of its portfolio. Ftb Advsr holds 225 shares or 0.01% of its portfolio. Pub Employees Retirement Association Of Colorado holds 0.01% or 3,772 shares in its portfolio. Stratos Wealth Partners Ltd reported 0% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO). The Massachusetts-based Geode Cap Mngmt Ltd Co has invested 0.01% in Bio-Rad Laboratories, Inc. (NYSE:BIO). Dorsey Wright Associate accumulated 0.32% or 8,355 shares. State Treasurer State Of Michigan reported 0.01% stake.

The stock of Bio-Rad Laboratories, Inc. (NYSE:BIO) hit a new 52-week high and has $310.96 target or 3.00 % above today’s $301.90 share price. The 8 months bullish chart indicates low risk for the $8.98B company. The 1-year high was reported on Jun, 12 by Barchart.com. If the $310.96 price target is reached, the company will be worth $269.43 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.

The stock increased 0.30% or $0.9 during the last trading session, reaching $301.9. About 13,577 shares traded. Bio-Rad Laboratories, Inc. (NYSE:BIO) has risen 30.04% since June 12, 2017 and is uptrending. It has outperformed by 17.47% the S&P500.

Analysts await Bio-Rad Laboratories, Inc. (NYSE:BIO) to report earnings on August, 2. They expect $1.25 earnings per share, up 115.52 % or $0.67 from last year’s $0.58 per share. BIO’s profit will be $37.19 million for 60.38 P/E if the $1.25 EPS becomes a reality. After $1.17 actual earnings per share reported by Bio-Rad Laboratories, Inc. for the previous quarter, Wall Street now forecasts 6.84 % EPS growth.

Bio-Rad Laboratories, Inc. (NYSE:BIO) Ratings Coverage

Among 3 analysts covering Bio-Rad Laboratories (NYSE:BIO), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Bio-Rad Laboratories has $290.0 highest and $280 lowest target. $290’s average target is -3.94% below currents $301.9 stock price. Bio-Rad Laboratories had 4 analyst reports since February 16, 2018 according to SRatingsIntel. The company was downgraded on Friday, February 16 by CL King. The firm has “Buy” rating given on Tuesday, March 20 by Wells Fargo. As per Wednesday, February 28, the company rating was maintained by Wells Fargo. The rating was downgraded by C.L. King on Friday, February 16 to “Hold”.

More news for Bio-Rad Laboratories, Inc. (NYSE:BIO) were recently published by: Globenewswire.com, which released: “Research Report Identifies Bio-Rad Laboratories, Bright Horizons Family Solutions, Corbus Pharmaceuticals …” on May 18, 2018. Stockhouse.com‘s article titled: “Bio-Rad to Present at Jefferies 2018 Global Healthcare Conference on June 5” and published on May 31, 2018 is yet another important article.

Bio-Rad Laboratories, Inc. manufactures and supplies products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components for life science research, healthcare, analytical chemistry, and other markets. The company has market cap of $8.98 billion. The firm operates through two divisions, Life Science and Clinical Diagnostics. It has a 11.85 P/E ratio. The Life Science segment develops, makes, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.

Bio-Rad Laboratories, Inc. (NYSE:BIO) Institutional Positions Chart

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