Bio-Rad Laboratories (BIO) Initiated with a Buy at Oppenheimer

Oppenheimer analyst Kevin DeGeeter initiated coverage with a Buy rating on Bio-Rad Laboratories (BIOResearch Report) yesterday and set a price target of EUR2.00. The company’s shares closed last Monday at $597.30.

According to TipRanks.com, DeGeeter is a top 100 analyst with an average return of 58.5% and a 59.9% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals, Sensei Biotherapeutics, and Ionis Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Bio-Rad Laboratories with a $504.14 average price target.

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Bio-Rad Laboratories’ market cap is currently $17.44B and has a P/E ratio of 4.60. The company has a Price to Book ratio of 1.86.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BIO in relation to earlier this year.

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Bio-Rad Laboratories, Inc. engages in the development and production of specialty chemicals used in biochemical, pharmaceutical, and other life science research applications. It operates through the following segments: Life Sciences and Clinical Diagnostics. The Life Science segment develops, manufactures and markets reagents, apparatus, and laboratory instruments. The Clinical Diagnostics segment designs, manufactures, sells and supports test systems, informatics systems, test kits and specialize in quality controls that serve clinical laboratories in the global diagnostics market. The company was founded by David S. Schwartz and Alice N. Schwartz in 1952 and is headquartered in Hercules, CA.