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

Royal Bank of Canada boosted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 16.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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’s holdings in Bio-Rad Laboratories were worth $4,794,000 as of its most recent SEC filing.

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

Bio-Rad Laboratories Trading Down 0.4%

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

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BIO. Royal Bank Of Canada upped their price target on shares of Bio-Rad Laboratories from $320.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Zacks Research upgraded shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company increased their price target on shares of Bio-Rad Laboratories from $310.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Bio-Rad Laboratories in a research report on Monday, August 3rd. Finally, Citigroup boosted 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 equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $343.33.

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.