Bio-Rad Laboratories (NYSE:BIO) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Bio-Rad Laboratories (NYSE:BIO) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $481.00 price objective on the medical research company’s stock.

Several other equities analysts have also recently issued reports on the company. Citigroup boosted their target price on 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 Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $394.20.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $341.95 on Tuesday. The stock’s 50-day moving average price is $338.84 and its 200 day moving average price is $328.58. 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 stock has a market capitalization of $9.57 billion, a PE 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.

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

Institutional Investors Weigh In On Bio-Rad Laboratories

Institutional investors and hedge funds have recently modified their holdings of the company. UMB Bank n.a. boosted its position in 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 in the last quarter. Gladius Capital Management LP acquired a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth $32,000. Headlands Technologies LLC acquired a new position in shares of Bio-Rad Laboratories during the 2nd quarter worth $51,000. Point72 Hong Kong Ltd acquired a new stake in Bio-Rad Laboratories in the 3rd quarter valued at about $55,000. Finally, Quarry LP acquired a new stake in Bio-Rad Laboratories in the 2nd quarter valued at about $59,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

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.