Bio-Rad Laboratories' (BIO) "Outperform" Rating Reaffirmed at Royal Bank of Canada

Bio-Rad Laboratories (NYSE:BIO - Get Free Report)'s stock had its "outperform" rating reissued by analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They currently have a $481.00 price target on the medical research company's stock. Royal Bank of Canada's price objective indicates a potential upside of 40.66% from the company's current price.

BIO has been the topic of several other research reports. Citigroup increased their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. StockNews.com upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $394.20.

Bio-Rad Laboratories Trading Down 2.8 %

NYSE BIO traded down $9.75 during trading on Tuesday, hitting $341.95. The stock had a trading volume of 206,292 shares, compared to its average volume of 138,811. Bio-Rad Laboratories has a one year low of $262.12 and a one year high of $387.99. The stock has a 50 day simple moving average of $338.84 and a 200 day simple moving average of $328.58. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of -12.51 and a beta of 0.90. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.85. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The firm had revenue of $649.70 million for the quarter, compared to the consensus estimate of $628.18 million. During the same period in the prior year, the business posted $2.33 earnings per share. The company's revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts predict that Bio-Rad Laboratories will post 10.29 earnings per share for the current year.

Institutional Trading of Bio-Rad Laboratories

A number of hedge funds have recently bought and sold shares of BIO. UMB Bank n.a. grew its position in shares of Bio-Rad Laboratories by 140.6% in the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company's stock worth $26,000 after buying an additional 45 shares during the last quarter. Gladius Capital Management LP acquired a new stake in Bio-Rad Laboratories in the third quarter valued at approximately $32,000. Headlands Technologies LLC purchased a new position in Bio-Rad Laboratories in the second quarter worth $51,000. Point72 Hong Kong Ltd purchased a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at $55,000. Finally, Quarry LP acquired a new stake in shares of Bio-Rad Laboratories in the 2nd quarter worth $59,000. Hedge funds and other institutional investors 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.