Bio-Rad Laboratories (NYSE:BIO) Stock Gets Price Target Increase from Royal Bank Of Canada

Bio-Rad Laboratories (NYSE:BIO) had its price objective boosted by equities researchers at Royal Bank Of Canada from $390.00 to $440.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Royal Bank Of Canada‘s price objective would indicate a potential upside of 15.18% from the company’s previous close.

A number of other research firms have also weighed in on BIO. Weiss Ratings raised shares of Bio-Rad Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Wells Fargo & Company boosted their price target on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Zacks Research upgraded Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Citigroup raised their target price on shares of Bio-Rad Laboratories from $300.00 to $330.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $366.67.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock traded up $13.00 on Thursday, hitting $382.00. 273,157 shares of the stock were exchanged, compared to its average volume of 222,323. Bio-Rad Laboratories has a one year low of $236.73 and a one year high of $396.23. The firm’s 50 day moving average is $373.71 and its two-hundred day moving average is $315.52. The firm has a market capitalization of $10.21 billion, a PE ratio of 10.06 and a beta of 1.06. The company has a current ratio of 3.14, a quick ratio of 2.33 and a debt-to-equity ratio of 0.11.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Wednesday, November 4th. The medical research company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.23 by $0.42. The business had revenue of $656.40 million for the quarter, compared to the consensus estimate of $649.94 million. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.26 earnings per share. Sell-side analysts expect that Bio-Rad Laboratories will post 9.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its stake in Bio-Rad Laboratories by 6.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 648 shares of the medical research company’s stock worth $245,000 after buying an additional 39 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Bio-Rad Laboratories by 0.6% in the 1st quarter. Cetera Investment Advisers now owns 7,596 shares of the medical research company’s stock worth $2,117,000 after purchasing an additional 48 shares during the period. Rehmann Capital Advisory Group increased its position in Bio-Rad Laboratories by 8.3% during the second quarter. Rehmann Capital Advisory Group now owns 954 shares of the medical research company’s stock valued at $280,000 after acquiring an additional 73 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Bio-Rad Laboratories by 2.1% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 3,746 shares of the medical research company’s stock worth $1,044,000 after purchasing an additional 77 shares during the period. Finally, Root Financial Partners LLC bought a new position in Bio-Rad Laboratories in the 3rd quarter valued at $34,000. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc develops, manufactures and markets products and systems used in life science research and clinical diagnostics. Its life science portfolio includes laboratory instruments, reagents, software and consumables used in areas such as genomics, proteomics, cell biology, biopharmaceutical development and quality control.

The company’s clinical diagnostics business provides systems, reagents and software for blood typing, infectious disease testing, diabetes monitoring, quality control and other diagnostic applications.