Bio-Rad Laboratories’ (BIO) “Outperform” Rating Reiterated at Royal Bank Of Canada

Bio-Rad Laboratories (NYSE:BIO)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank Of Canada in a note issued to investors on Friday,Benzinga reports. They currently have a $320.00 price target on the medical research company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 30.70% from the stock’s current price.

BIO has been the subject of a number of other research reports. Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $375.00 to $300.00 in a research note on Tuesday, April 7th. Wells Fargo & Company decreased their target price on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Wall Street Zen lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings downgraded Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $303.33.

Bio-Rad Laboratories Price Performance

BIO stock opened at $244.84 on Friday. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 40.53 and a beta of 1.06. The firm’s 50-day moving average price is $274.00 and its two-hundred day moving average price is $293.94. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12. Bio-Rad Laboratories has a 12-month low of $211.43 and a 12-month high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The firm had revenue of $592.10 million for the quarter, compared to analysts’ expectations of $589.91 million. During the same quarter in the prior year, the company posted $2.54 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts predict that Bio-Rad Laboratories will post 10.32 earnings per share for the current year.

Hedge Funds Weigh In On Bio-Rad Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quent Capital LLC purchased a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at about $25,000. Danske Bank A S purchased a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $30,000. Hollencrest Capital Management bought a new position in Bio-Rad Laboratories during the first quarter valued at approximately $28,000. Geneos Wealth Management Inc. boosted its holdings in Bio-Rad Laboratories by 115.2% in the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after purchasing an additional 76 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Bio-Rad Laboratories in the fourth quarter worth approximately $47,000. Institutional investors own 65.24% of the company’s stock.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.