Bio-Reference Laboratories Stock Price Up 19.5% Following Strong Earnings (BRLI)
Shares of Bio-Reference Laboratories (NASDAQ:BRLI) rose 19.5% during mid-day trading on Thursday after the company announced better than expected quarterly earnings, StockRatingsNetwork.com reports. The stock traded as high as $32.14 and last traded at $32.01, with a volume of 902,820 shares trading hands. The stock had previously closed at $26.78.
The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.05. The company had revenue of $201.30 million for the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis.
Separately, analysts at Zacks upgraded shares of Bio-Reference Laboratories from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 6th. They now have a $26.10 price target on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $29.55.
The stock has a 50-day moving average of $26.21 and a 200-day moving average of $27.03. The company has a market cap of $887.9 million and a P/E ratio of 18.48.
Bio-Reference Laboratories, Inc (NASDAQ:BRLI) is a clinical testing laboratory offering testing, information and related services to physician offices, clinics, hospitals, employers and governmental units.
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