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

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

A number of other equities research analysts also recently weighed in on the company. Citigroup lifted their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $394.20.

Bio-Rad Laboratories Trading Up 0.8 %

Shares of NYSE BIO opened at $344.56 on Tuesday. The firm has a 50 day moving average price of $337.60 and a two-hundred day moving average price of $329.16. The stock has a market cap of $9.65 billion, a P/E ratio of -12.61 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 company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14.

Bio-Rad Laboratories (NYSE:BIO) last announced its 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 firm had revenue of $649.70 million for the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.33 EPS. As a group, equities analysts forecast that Bio-Rad Laboratories will post 10.3 EPS for the current year.

Institutional Investors Weigh In On Bio-Rad Laboratories

Hedge funds have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC lifted its holdings in shares of Bio-Rad Laboratories by 32,296.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after purchasing an additional 634,311 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Bio-Rad Laboratories by 95.6% during the third quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company’s stock worth $14,836,000 after acquiring an additional 21,669 shares in the last quarter. Mawer Investment Management Ltd. raised its holdings in shares of Bio-Rad Laboratories by 63.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 217,885 shares of the medical research company’s stock worth $72,900,000 after acquiring an additional 84,237 shares during the last quarter. Verition Fund Management LLC lifted its position in Bio-Rad Laboratories by 193.3% in the 3rd quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company’s stock valued at $1,161,000 after acquiring an additional 2,287 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Bio-Rad Laboratories by 341.7% during the 3rd quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the medical research company’s stock valued at $1,773,000 after purchasing an additional 4,100 shares during the last quarter. 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.