Bio-Rad Laboratories (NYSE:BIO) Earns Outperform Rating from Royal Bank of Canada

Bio-Rad Laboratories (NYSE:BIO)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $481.00 target price on the medical research company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 40.21% from the company’s current price.

Other analysts have also recently issued research reports about the company. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Citigroup upped their price target on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $394.20.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock opened at $343.06 on Tuesday. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $338.19 and a 200-day moving average of $329.06. The stock has a market cap of $9.60 billion, a P/E ratio of -12.55 and a beta of 0.90. Bio-Rad Laboratories has a 52 week low of $262.12 and a 52 week high of $387.99.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.85. The company had revenue of $649.70 million during the quarter, compared to analyst estimates of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $2.33 EPS. On average, analysts expect that Bio-Rad Laboratories will post 10.29 EPS for the current fiscal year.

Institutional Trading of Bio-Rad Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Avior Wealth Management LLC grew its stake in Bio-Rad Laboratories by 3.3% during the 3rd quarter. Avior Wealth Management LLC now owns 999 shares of the medical research company’s stock worth $334,000 after buying an additional 32 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Bio-Rad Laboratories by 140.6% during the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 45 shares during the period. Quarry LP grew its position in shares of Bio-Rad Laboratories by 38.1% during the third quarter. Quarry LP now owns 297 shares of the medical research company’s stock worth $99,000 after acquiring an additional 82 shares during the last quarter. Creative Planning increased its holdings in shares of Bio-Rad Laboratories by 6.0% in the 3rd quarter. Creative Planning now owns 1,632 shares of the medical research company’s stock worth $546,000 after acquiring an additional 93 shares during the period. Finally, APG Asset Management N.V. lifted its position in Bio-Rad Laboratories by 0.7% in the 2nd quarter. APG Asset Management N.V. now owns 14,305 shares of the medical research company’s stock valued at $3,645,000 after purchasing an additional 96 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

About Bio-Rad Laboratories

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.