Bio-Rad Laboratories (NYSE:BIO) Price Target Raised to $481.00

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) had its price target lifted by research analysts at Royal Bank of Canada from $369.00 to $481.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the medical research company's stock. Royal Bank of Canada's target price would suggest a potential upside of 39.18% from the stock's current price.

BIO has been the subject of several other research reports. StockNews.com raised Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Citigroup boosted their target price 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. Finally, Wells Fargo & Company initiated coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an "equal weight" rating and a $340.00 target price for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Bio-Rad Laboratories presently has an average rating of "Moderate Buy" and an average price target of $394.20.

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock traded up $20.10 during trading on Monday, reaching $345.60. The company's stock had a trading volume of 228,402 shares, compared to its average volume of 243,130. The business's 50-day moving average price is $341.22 and its 200-day moving average price is $319.41. The firm has a market cap of $9.68 billion, a PE ratio of -11.91 and a beta of 0.90. Bio-Rad Laboratories has a 52 week low of $262.12 and a 52 week high of $387.99. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.85. The business had revenue of $649.70 million during the quarter, compared to the consensus estimate of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. Bio-Rad Laboratories's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 earnings per share. Equities analysts forecast that Bio-Rad Laboratories will post 10.29 earnings per share for the current year.

Institutional Trading of Bio-Rad Laboratories

Several institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC bought a new position in shares of Bio-Rad Laboratories during the 1st quarter worth approximately $404,000. CWM LLC boosted its holdings in shares of Bio-Rad Laboratories by 15.7% during the 2nd quarter. CWM LLC now owns 759 shares of the medical research company's stock worth $207,000 after buying an additional 103 shares in the last quarter. Czech National Bank lifted its holdings in shares of Bio-Rad Laboratories by 5.6% in the 2nd quarter. Czech National Bank now owns 3,888 shares of the medical research company's stock worth $1,062,000 after purchasing an additional 206 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Bio-Rad Laboratories by 9.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 947 shares of the medical research company's stock worth $259,000 after purchasing an additional 82 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Bio-Rad Laboratories by 36.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 54,332 shares of the medical research company's stock worth $14,839,000 after purchasing an additional 14,457 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

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.