Bio-Rad Laboratories (NYSE:BIO) Sees Large Volume Increase After Better-Than-Expected Earnings

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report) shares saw strong trading volume on Friday after the company announced better than expected quarterly earnings. 253,061 shares traded hands during mid-day trading, an increase of 49% from the previous session's volume of 169,469 shares.The stock last traded at $284.78 and had previously closed at $306.36.

The medical research company reported $2.90 EPS for the quarter, topping analysts' consensus estimates of $2.86 by $0.04. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BIO shares. Royal Bank of Canada restated an "outperform" rating and set a $481.00 price objective on shares of Bio-Rad Laboratories in a research note on Tuesday, January 14th. StockNews.com downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Monday. Citigroup lifted their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price objective on shares of Bio-Rad Laboratories from $360.00 to $345.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $395.20.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in BIO. Strategic Financial Concepts LLC bought a new stake in Bio-Rad Laboratories during the fourth quarter valued at $3,561,000. Lecap Asset Management Ltd. acquired a new position in shares of Bio-Rad Laboratories in the 4th quarter valued at about $510,000. Principal Financial Group Inc. grew its position in shares of Bio-Rad Laboratories by 95.6% during the 3rd quarter. Principal Financial Group Inc. now owns 44,341 shares of the medical research company's stock valued at $14,836,000 after buying an additional 21,669 shares during the last quarter. Mawer Investment Management Ltd. raised its stake in Bio-Rad Laboratories by 63.0% during the third 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 period. Finally, Verition Fund Management LLC raised its stake in Bio-Rad Laboratories by 193.3% during the third quarter. Verition Fund Management LLC now owns 3,470 shares of the medical research company's stock worth $1,161,000 after acquiring an additional 2,287 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Up 2.3 %

The stock has a market cap of $7.94 billion, a P/E ratio of -10.37 and a beta of 0.90. The stock's fifty day simple moving average is $336.21 and its 200-day simple moving average is $335.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.14 and a quick ratio of 4.52.

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.