Bio-Rad Laboratories (NYSE:BIO) Now Covered by Analysts at Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of Bio-Rad Laboratories (NYSE:BIO) in a research note issued to investors on Friday morning, Marketbeat reports. The firm issued an outperform rating and a $320.00 price target on the medical research company’s stock.

Several other brokerages have also recently commented on BIO. Wall Street Zen cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Wells Fargo & Company dropped their target price on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Weiss Ratings cut shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, Citigroup cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $375.00 to $300.00 in a research report on Tuesday, April 7th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $303.33.

Bio-Rad Laboratories Stock Performance

Shares of Bio-Rad Laboratories stock opened at $247.66 on Friday. The firm has a fifty day moving average of $273.25 and a two-hundred day moving average of $293.61. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 40.80 and a beta of 1.06. Bio-Rad Laboratories has a 52 week low of $211.43 and a 52 week high of $343.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.37 and a current ratio of 3.21.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, April 30th. The medical research company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08). The business had revenue of $592.10 million for the quarter, compared to the consensus estimate of $589.91 million. Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.54 EPS. As a group, equities research analysts predict that Bio-Rad Laboratories will post 10.32 EPS for the current year.

Institutional Trading of Bio-Rad Laboratories

A number of large investors have recently made changes to their positions in BIO. Capital Research Global Investors bought a new stake in shares of Bio-Rad Laboratories in the 3rd quarter valued at $117,303,000. Massachusetts Financial Services Co. MA increased its position in shares of Bio-Rad Laboratories by 4,534.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock valued at $120,956,000 after buying an additional 390,593 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Bio-Rad Laboratories by 2,271.3% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 397,171 shares of the medical research company’s stock valued at $111,363,000 after buying an additional 380,422 shares in the last quarter. Boston Partners bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at $75,037,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Bio-Rad Laboratories by 6,586.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 147,834 shares of the medical research company’s stock valued at $41,209,000 after buying an additional 145,623 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.