Bio-Rad Laboratories (NYSE:BIO) Price Target Raised to $469.00 at Royal Bank of Canada

Bio-Rad Laboratories (NYSE:BIO) had its price target lifted by Royal Bank of Canada from $446.00 to $469.00 in a report issued on Thursday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

BIO has been the subject of a number of other research reports. Wells Fargo & Company assumed coverage on shares of 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. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup raised Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and increased their target price for the stock from $350.00 to $400.00 in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $391.80.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $358.19 on Thursday. Bio-Rad Laboratories has a fifty-two week low of $262.12 and a fifty-two week high of $364.24. The stock’s 50 day simple moving average is $332.92 and its two-hundred day simple moving average is $308.00. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.73. The company had revenue of $649.70 million for the quarter, compared to analysts’ expectations of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.66% and a negative net margin of 30.18%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.33 earnings per share. As a group, equities analysts forecast that Bio-Rad Laboratories will post 9.45 earnings per share for the current year.

Insider Activity at Bio-Rad Laboratories

In other news, EVP James Barry sold 623 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the transaction, the executive vice president now owns 147 shares in the company, valued at $48,582.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the sale, the chief operating officer now owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Barry sold 623 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the transaction, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Bio-Rad Laboratories by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,421,334 shares of the medical research company’s stock valued at $837,467,000 after purchasing an additional 31,445 shares during the last quarter. Van ECK Associates Corp increased its holdings in Bio-Rad Laboratories by 97.8% during the third quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock valued at $436,861,000 after buying an additional 644,530 shares during the last quarter. Select Equity Group L.P. raised its position in Bio-Rad Laboratories by 26.2% in the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after acquiring an additional 134,856 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Bio-Rad Laboratories by 32,296.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after acquiring an additional 634,311 shares during the last quarter. Finally, Earnest Partners LLC grew its position in shares of Bio-Rad Laboratories by 17.8% during the 2nd quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock valued at $165,720,000 after acquiring an additional 91,882 shares during the period. Institutional investors own 65.24% of the company’s stock.

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.