$0.49 EPS Expected for Bio-Rad Laboratories, Inc. (BIO) This Quarter
Equities analysts predict that Bio-Rad Laboratories, Inc. (NYSE:BIO) will post $0.49 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Bio-Rad Laboratories’ earnings. The lowest EPS estimate is $0.39 and the highest is $0.54. Bio-Rad Laboratories posted earnings per share of $0.62 in the same quarter last year, which would suggest a negative year over year growth rate of 21%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Bio-Rad Laboratories will report full-year earnings of $2.85 per share for the current year, with EPS estimates ranging from $2.84 to $2.85. For the next year, analysts forecast that the business will report earnings of $4.34 per share, with EPS estimates ranging from $3.78 to $4.75. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Bio-Rad Laboratories.
Several equities analysts have recently issued reports on BIO shares. Zacks Investment Research lowered shares of Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. BidaskClub upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $275.00 target price on shares of Bio-Rad Laboratories in a report on Friday, July 14th. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a report on Thursday, July 13th. They set an “outperform” rating and a $250.00 target price for the company. Finally, Deutsche Bank AG upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating and lowered their target price for the company from $220.00 to $195.00 in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $228.80.
Shares of Bio-Rad Laboratories (NYSE BIO) traded up 0.01% during mid-day trading on Friday, hitting $212.43. The stock had a trading volume of 210,765 shares. The stock’s 50-day moving average price is $228.17 and its 200-day moving average price is $213.43. Bio-Rad Laboratories has a 52-week low of $147.68 and a 52-week high of $242.79. The firm has a market cap of $6.30 billion, a PE ratio of 419.82 and a beta of 0.91.
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In other news, EVP Michael Crowley sold 700 shares of Bio-Rad Laboratories stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $215.91, for a total transaction of $151,137.00. Following the completion of the transaction, the executive vice president now directly owns 2,060 shares in the company, valued at $444,774.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 28.29% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of Bio-Rad Laboratories by 0.3% in the second quarter. BlackRock Inc. now owns 1,738,431 shares of the medical research company’s stock worth $393,424,000 after buying an additional 5,320 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Bio-Rad Laboratories by 0.4% in the second quarter. Vanguard Group Inc. now owns 1,679,405 shares of the medical research company’s stock worth $380,067,000 after buying an additional 6,131 shares during the last quarter. FMR LLC raised its position in shares of Bio-Rad Laboratories by 237.4% in the second quarter. FMR LLC now owns 711,313 shares of the medical research company’s stock worth $160,978,000 after buying an additional 500,513 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of Bio-Rad Laboratories by 1.6% in the second quarter. TimesSquare Capital Management LLC now owns 621,650 shares of the medical research company’s stock worth $140,686,000 after buying an additional 9,950 shares during the last quarter. Finally, State Street Corp raised its position in shares of Bio-Rad Laboratories by 1.7% in the second quarter. State Street Corp now owns 545,232 shares of the medical research company’s stock worth $123,396,000 after buying an additional 8,865 shares during the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.
About Bio-Rad Laboratories
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.
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