Bio-Rad Laboratories Shares Gap Up Following Better-Than-Expected Earnings (BIO)
Bio-Rad Laboratories (NYSE:BIO) gapped up prior to trading on Wednesday following a better than expected earnings announcement, Analyst Ratings.Net reports. The stock had previously closed at $115.71, but opened at $116.18. Bio-Rad Laboratories shares last traded at $120.46, with a volume of 41,926 shares trading hands.
The company reported $1.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.95 by $0.14. The company had revenue of $536.80 million for the quarter, compared to the consensus estimate of $537.58 million. During the same quarter last year, the company posted $1.20 earnings per share. Bio-Rad Laboratories’s revenue was up 2.2% compared to the same quarter last year.
A number of analysts have recently weighed in on BIO shares. Analysts at Zacks upgraded shares of Bio-Rad Laboratories from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 8th. They now have a $120.20 price target on the stock. Separately, analysts at TheStreet downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, May 26th.
The stock has a 50-day moving average of $118.3 and a 200-day moving average of $123.6. The company has a market cap of $3.495 billion and a price-to-earnings ratio of 52.36.
Bio-Rad Laboratories, Inc (NYSE:BIO), manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
Receive News & Ratings for Bio-Rad Laboratories Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.