What Next for Bio-Rad Laboratories, Inc. (BIO) Stock After Achieving 52-Week High?

June 12, 2018 - By Graig Alexander

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 is negative, 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.
Cubist Systematic Strategies Limited Co owns 467 shares. Goldman Sachs Group owns 107,414 shares. Gideon Cap has 2,337 shares. Victory Cap Mgmt accumulated 0% or 7,306 shares. Shelton Capital reported 1,429 shares or 0.02% of all its holdings. Stewart Patten Communications Limited Company holds 0.12% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 2,468 shares. Texas Permanent School Fund owns 13,382 shares. Advisor Prtn Lc invested 0.04% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO). Service Automobile Association owns 0.02% invested in Bio-Rad Laboratories, Inc. (NYSE:BIO) for 24,878 shares. The New York-based Amalgamated Bancorp has invested 0.03% in Bio-Rad Laboratories, Inc. (NYSE:BIO). Bnp Paribas Arbitrage invested 0% in Bio-Rad Laboratories, Inc. (NYSE:BIO). Gabelli Funds Ltd Liability Corporation owns 29,000 shares or 0.04% of their US portfolio. Ariel Invests Limited Liability Company accumulated 251,129 shares. Citadel Ltd Liability Company holds 6,879 shares. Monarch Prtn Asset Mgmt Limited reported 1.66% of its portfolio in Bio-Rad Laboratories, Inc. (NYSE:BIO).

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 EPS, 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 EPS 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 rating was maintained by Wells Fargo on Wednesday, February 28 with “Outperform”. The firm has “Neutral” rating by CL King given on Friday, February 16. On Tuesday, March 20 the stock rating was maintained by Wells Fargo with “Buy”. C.L. King downgraded the shares of BIO in report on Friday, February 16 to “Hold” rating.

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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