Bio-Rad Laboratories (NYSE:BIO) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

Bio-Rad Laboratories, Inc. (NYSE:BIO) saw unusually-strong trading volume on Friday following a stronger than expected earnings report. Approximately 253,061 shares traded hands during mid-day trading, an increase of 49% from the previous session’s volume of 169,469 shares.The stock last traded at $284.78 and had previously closed at $306.36.

The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BIO shares. Citigroup raised their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company reduced their price target on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $481.00 price target on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $395.20.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Creative Planning increased its position in shares of Bio-Rad Laboratories by 6.0% in the third quarter. Creative Planning now owns 1,632 shares of the medical research company’s stock valued at $546,000 after buying an additional 93 shares in the last quarter. Marathon Asset Management Ltd increased its position in shares of Bio-Rad Laboratories by 0.5% in the third quarter. Marathon Asset Management Ltd now owns 71,537 shares of the medical research company’s stock valued at $23,934,000 after buying an additional 344 shares in the last quarter. Blue Trust Inc. increased its position in shares of Bio-Rad Laboratories by 22.9% in the third quarter. Blue Trust Inc. now owns 1,056 shares of the medical research company’s stock valued at $353,000 after buying an additional 197 shares in the last quarter. Raymond James & Associates increased its position in shares of Bio-Rad Laboratories by 8.6% in the third quarter. Raymond James & Associates now owns 14,915 shares of the medical research company’s stock valued at $4,990,000 after buying an additional 1,179 shares in the last quarter. Finally, Greenleaf Trust purchased a new stake in shares of Bio-Rad Laboratories in the third quarter valued at approximately $202,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

The firm has a market capitalization of $7.74 billion, a PE ratio of -10.12 and a beta of 0.90. The stock has a 50-day moving average price of $338.72 and a 200 day moving average price of $336.18. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16.

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.