Royal Bank of Canada Issues Positive Forecast for Bio-Rad Laboratories (NYSE:BIO) Stock Price

Bio-Rad Laboratories (NYSE:BIO) had its price target upped by Royal Bank of Canada from $369.00 to $481.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

BIO has been the topic of several other research reports. StockNews.com raised shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company started coverage on Bio-Rad Laboratories in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price target on the stock. Finally, Citigroup raised their price objective 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. According to MarketBeat, Bio-Rad Laboratories has a consensus rating of “Moderate Buy” and an average target price of $394.20.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $345.60 on Monday. 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 firm’s fifty day simple moving average is $341.43 and its 200 day simple moving average is $319.80. The stock has a market cap of $9.68 billion, a P/E ratio of -12.65 and a beta of 0.90. Bio-Rad Laboratories has a twelve month low of $262.12 and a twelve month 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 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.85. The company had revenue of $649.70 million for the quarter, compared to analyst estimates 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 firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. As a group, research analysts predict that Bio-Rad Laboratories will post 10.29 EPS for the current year.

Institutional Trading of Bio-Rad Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of BIO. Capital Advisors Ltd. LLC grew its position in Bio-Rad Laboratories by 193.8% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock worth $26,000 after purchasing an additional 62 shares during the period. UMB Bank n.a. boosted its stake in shares of Bio-Rad Laboratories by 140.6% in the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after acquiring an additional 45 shares during the period. Gladius Capital Management LP purchased a new position in shares of Bio-Rad Laboratories in the third quarter worth $32,000. Headlands Technologies LLC purchased a new stake in shares of Bio-Rad Laboratories in the second quarter worth about $51,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Bio-Rad Laboratories in the third quarter valued at $55,000. Institutional investors own 65.24% of the company’s stock.

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.