Bio-Rad Laboratories’ (BIO) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Bio-Rad Laboratories (NYSE:BIO) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $481.00 target price on the medical research company’s stock.

BIO has been the topic of a number of other research reports. Citigroup raised their target price on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $394.20.

Bio-Rad Laboratories Stock Down 2.8 %

Shares of NYSE:BIO opened at $341.95 on Tuesday. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $9.57 billion, a P/E ratio of -12.51 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. The stock’s fifty day simple moving average is $338.84 and its 200-day simple moving average is $328.58.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $649.70 million during the quarter, compared to the consensus estimate of $628.18 million. During the same quarter in the previous year, the company posted $2.33 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts forecast that Bio-Rad Laboratories will post 10.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its position 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 worth $26,000 after purchasing an additional 45 shares during the last quarter. Gladius Capital Management LP acquired a new stake in Bio-Rad Laboratories during the third quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in Bio-Rad Laboratories during the second quarter valued at approximately $51,000. Point72 Hong Kong Ltd bought a new position in Bio-Rad Laboratories during the 3rd quarter worth approximately $55,000. Finally, Quarry LP acquired a new position in shares of Bio-Rad Laboratories in the 2nd quarter worth approximately $59,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Company Profile

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.