Bio-Rad Laboratories (NYSE:BIO) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Bio-Rad Laboratories (NYSE:BIOGet Rating) in a research note published on Tuesday, The Fly reports. The brokerage issued an outperform rating and a $565.00 price target on the medical research company’s stock.

A number of other analysts also recently issued reports on the company. Credit Suisse Group cut their price objective on Bio-Rad Laboratories from $715.00 to $640.00 and set an outperform rating for the company in a research report on Friday, October 28th. TheStreet cut shares of Bio-Rad Laboratories from a c rating to a d+ rating in a research report on Thursday, October 27th. Finally, StockNews.com lowered shares of Bio-Rad Laboratories from a buy rating to a hold rating in a report on Wednesday, November 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bio-Rad Laboratories currently has an average rating of Moderate Buy and an average target price of $651.25.

Bio-Rad Laboratories Trading Up 4.0 %

Shares of BIO opened at $420.10 on Tuesday. The company has a current ratio of 5.50, a quick ratio of 4.30 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $400.26 and a 200 day moving average price of $467.24. Bio-Rad Laboratories has a 12-month low of $344.63 and a 12-month high of $770.76. The firm has a market capitalization of $12.53 billion, a P/E ratio of -2.09 and a beta of 0.93.

Bio-Rad Laboratories (NYSE:BIOGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The medical research company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. The business had revenue of $680.10 million during the quarter, compared to analysts’ expectations of $685.50 million. Bio-Rad Laboratories had a negative net margin of 215.16% and a positive return on equity of 4.13%. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.71 EPS. Sell-side analysts forecast that Bio-Rad Laboratories will post 14.38 EPS for the current year.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Bio-Rad Laboratories by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,317,941 shares of the medical research company’s stock valued at $1,305,534,000 after acquiring an additional 30,476 shares in the last quarter. Veritas Asset Management LLP raised its position in Bio-Rad Laboratories by 30.0% in the 3rd quarter. Veritas Asset Management LLP now owns 996,621 shares of the medical research company’s stock valued at $415,730,000 after purchasing an additional 229,859 shares in the last quarter. State Street Corp boosted its stake in shares of Bio-Rad Laboratories by 0.3% in the 3rd quarter. State Street Corp now owns 958,704 shares of the medical research company’s stock valued at $399,914,000 after buying an additional 2,869 shares during the period. Brown Advisory Inc. boosted its stake in shares of Bio-Rad Laboratories by 33.3% in the 3rd quarter. Brown Advisory Inc. now owns 775,712 shares of the medical research company’s stock valued at $323,582,000 after buying an additional 193,896 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Bio-Rad Laboratories by 1.0% during the first quarter. Acadian Asset Management LLC now owns 415,534 shares of the medical research company’s stock worth $234,007,000 after buying an additional 4,048 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

About Bio-Rad Laboratories

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Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.

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