Royal Bank of Canada Boosts Stock Position in Bio-Rad Laboratories, Inc. $BIO

Royal Bank of Canada boosted its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 16.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,198 shares of the medical research company’s stock after buying an additional 2,487 shares during the period. Royal Bank of Canada owned approximately 0.06% of Bio-Rad Laboratories worth $4,794,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BIO. Danske Bank A S purchased a new stake in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $30,000. Hollencrest Capital Management bought a new stake in shares of Bio-Rad Laboratories during the 1st quarter valued at about $28,000. Geneos Wealth Management Inc. increased its holdings in Bio-Rad Laboratories by 115.2% during the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock valued at $34,000 after buying an additional 76 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Bio-Rad Laboratories during the 4th quarter worth $47,000. Finally, Farther Finance Advisors LLC grew its position in shares of Bio-Rad Laboratories by 76.9% during the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock valued at $56,000 after acquiring an additional 80 shares during the period. 65.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BIO shares. Weiss Ratings restated a “sell (d)” rating on shares of Bio-Rad Laboratories in a research note on Monday, August 3rd. Royal Bank Of Canada lifted their target price on Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Wells Fargo & Company boosted their price target on Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Zacks Research raised Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, Citigroup raised their price objective on Bio-Rad Laboratories from $300.00 to $330.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $343.33.

Bio-Rad Laboratories Stock Down 0.4%

NYSE BIO opened at $360.62 on Friday. Bio-Rad Laboratories, Inc. has a 12 month low of $236.73 and a 12 month high of $365.00. The company has a current ratio of 3.14, a quick ratio of 2.33 and a debt-to-equity ratio of 0.11. The stock has a market cap of $9.65 billion, a PE ratio of 43.71 and a beta of 1.06. The stock’s 50 day moving average is $307.35 and its 200 day moving average is $289.92.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.87. Bio-Rad Laboratories had a net margin of 8.59% and a return on equity of 3.54%. The firm had revenue of $651.00 million for the quarter, compared to analysts’ expectations of $623.99 million. During the same quarter last year, the business posted $2.61 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts predict that Bio-Rad Laboratories, Inc. will post 9.14 EPS for the current fiscal year.

Bio-Rad Laboratories Profile

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.