Bio-Rad Laboratories, Inc. (BIO) Expected to Announce Earnings of $0.55 Per Share
Wall Street brokerages expect Bio-Rad Laboratories, Inc. (NYSE:BIO) to report earnings of $0.55 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bio-Rad Laboratories’ earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.57. Bio-Rad Laboratories posted earnings of $0.61 per share in the same quarter last year, which indicates a negative year over year growth rate of 9.8%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Bio-Rad Laboratories will report full year earnings of $2.87 per share for the current financial year, with EPS estimates ranging from $2.85 to $2.89. For the next financial year, analysts forecast that the firm will report earnings of $4.28 per share, with EPS estimates ranging from $3.81 to $4.75. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Bio-Rad Laboratories.
Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, May 4th. The medical research company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.14. The company had revenue of $500.05 million during the quarter, compared to analysts’ expectations of $477.76 million. Bio-Rad Laboratories had a return on equity of 1.88% and a net margin of 2.48%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS.
BIO has been the subject of several recent research reports. Zacks Investment Research raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating and set a $244.00 price target for the company in a research report on Monday, May 1st. BidaskClub raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC raised their price target on Bio-Rad Laboratories from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, March 14th. Finally, Deutsche Bank AG raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating and dropped their price target for the stock from $220.00 to $195.00 in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $217.25.
A number of institutional investors have recently added to or reduced their stakes in BIO. BlackRock Inc. increased its position in Bio-Rad Laboratories by 9,953.4% in the first quarter. BlackRock Inc. now owns 1,733,111 shares of the medical research company’s stock valued at $345,478,000 after buying an additional 1,715,872 shares during the last quarter. Vanguard Group Inc. increased its position in Bio-Rad Laboratories by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,673,274 shares of the medical research company’s stock valued at $333,550,000 after buying an additional 58,774 shares during the last quarter. TimesSquare Capital Management LLC increased its position in Bio-Rad Laboratories by 17.2% in the first quarter. TimesSquare Capital Management LLC now owns 611,700 shares of the medical research company’s stock valued at $121,936,000 after buying an additional 89,800 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Bio-Rad Laboratories by 9.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 466,785 shares of the medical research company’s stock valued at $85,085,000 after buying an additional 38,714 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Bio-Rad Laboratories by 1.7% in the first quarter. Alliancebernstein L.P. now owns 335,197 shares of the medical research company’s stock valued at $66,818,000 after buying an additional 5,647 shares during the last quarter. 63.85% of the stock is owned by institutional investors.
Shares of Bio-Rad Laboratories (NYSE BIO) traded down 1.49% during mid-day trading on Monday, reaching $225.59. The company’s stock had a trading volume of 148,886 shares. The firm has a market capitalization of $6.68 billion, a P/E ratio of 239.48 and a beta of 0.91. Bio-Rad Laboratories has a 1-year low of $142.06 and a 1-year high of $233.51. The company’s 50-day moving average is $222.92 and its 200 day moving average is $202.79.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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 MarketBeat.com's FREE daily email newsletter.